Industry News | December 29, 2010

Noodles & Co. Sold to Investors

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Noodles & Co., the Broomfield, Colorado-based noodle fast-casual, has been acquired by an investment group that's led by Catterton Partners.

The financial terms of the acquisition were not disclosed, however, Catterton Partners has invested in foodservice brands including P.F. Changs, Baja Fresh, and Odwalla.

It is not known how the change will affect franchisees of the company's 250 restaurants nationwide, but CEO, president, and chairman Kevin Reddy will stay with the company, officials said in a statement yesterday.

“We are pleased to announce this transaction, which delivers immediate value to our current shareholders and reflects the successful alignment, partnership, and commitment of our board, employees, franchisees, and suppliers,” Reddy says. “In addition, we are delighted about the opportunity to work with Catterton Partners, which has an outstanding track record of success in building consumer restaurant and retail companies, such as P.F. Chang’s, Baja Fresh, Cheddar’s, Outback Steakhouse, Restoration Hardware, and Build-a-Bear Workshop.”

Noodles & Company was founded in Boulder in 1995 and moved its headquarters to Broomfield in 2006.Catterton Partners is based in Grennwich, Connecticut.