Noodles & Co. to Acquire 16 Restaurants For $13.4 Million

    Industry News | May 27, 2014

    Noodles & Company announced it has entered into an agreement to purchase 16 franchised Noodles & Co. restaurants for approximately $13.4 million. The acquisition is expected to close in early July 2014. The 16 locations included in the agreement, operated by long-time franchise partner, Sagamore Dining Partners, LLC, are located primarily in the greater Indianapolis area. All of the Noodles & Co. restaurants being acquired will remain open for business during the transition. "Mike Lamb and his team at Sagamore Dining Partners have done an outstanding job of establishing the Noodles & Company brand in Indianapolis over the past eight years," says Kevin Reddy, CEO of Noodles & Co. "The successful restaurants they have built and operated are extremely well-run and we look forward to adding them to our portfolio of company-owned restaurants in neighboring markets." Sagamore Dining Partners, LLC expanded their development agreement with Noodles & Co. earlier this year to include the exclusive right to open Noodles & Co. restaurants in the greater Louisville, Kentucky metro area. The first location in Louisville is anticipated to open in late 2014.

    News and information presented in this release has not been corroborated by WTWH Media LLC.