Origins The idea for Noodles & Company was conceived by former
Pepsi marketing executive Aaron Kennedy, after eating at Mamie's Asian Noodle Shop in
Greenwich Village, New York. He felt there were not enough restaurants that served noodle dishes, which are a staple for many international foods. Kennedy started developing recipes out of his mother-in-law's kitchen with the future COO, Joe Serafin, and head chef, Ross Kamens, in 1994. Kennedy raised $72,000 ($ in dollars) in personal funds and $200,000 ($ in dollars) in investments from 24 friends and family members. Kennedy was joined by partner and real estate developer Tom Weigand, whom he had met at
Augustana College. They opened a second location in
Madison, Wisconsin, the following March.
Early history In the first three months, Noodles & Company lost $42,000 ($ in dollars), The reviewer said Noodles & Company was "a killer idea" but "criticized nearly every dish he'd tried". The
Denver Post and other newspapers had published similar reviews. In response, Kennedy started a "Redefine Noodles & Company" campaign "to redefine and refine nearly every aspect of the operation". The next day, Kennedy made a list of 15 areas for improvement. Local food critics in many cities began naming Noodles & Company as the best fast-food restaurant in the city, and it was frequently listed as a "company to watch". $1 million ($ in dollars) in stock was sold in 1998, which was followed by a $2.5 million ($ in dollars) round of funding and a $5 million round in 2000. The restaurants were redesigned in 2004 with lighter colors, new packaging, a greater emphasis on carryout orders and a floorplan that emphasized an open kitchen, where the saute line was visible to customers. According to
Rocky Mountain News, the company was growing "so fast that it has had to move every two years". In 2006, its headquarters were moved from Boulder to Broomfield, Colorado. The company's founder, Aaron Kennedy, stepped down from his position as CEO that same year and was replaced by Kevin Reddy. The number of Noodles & Company locations grew threefold from the beginning of the
2008 financial crisis to 2013, reaching 339 locations.
Recent history In 2010, a majority interest in Noodles & Company was acquired by an investment group led by Catterton Partners. In January 2013, bankers told the
Financial Times that Noodles & Company was scouting for underwriters for an
initial public offering (IPO). Two months later, the intent for a public offering was confirmed with a filing with the
U.S. Securities and Exchange Commission for a sale of $75 million in stock on
NASDAQ OMX Group's
NASDAQ stock exchange. Around this time, the company had reached 339 locations, 51 of which were franchises, and $300.4 million in revenues. Within a day following Noodles & Company's (ticker symbol: NDLS) IPO on June 27, the stock price doubled.
Fast Company and
The Daily Beast called it "the hottest IPO of the year" and compared it to
Chipotle's IPO. On November 16, 2015, Noodles & Company announced that it had pulled out of
Central Texas, closing all five of its locations in the
Austin area. Restaurants in a handful of other cities had closed or were planned to close within the coming weeks, including locations in
Lubbock and the
Washington, D.C., area, according to published reports. Ultimately, 16 locations were closed by the end of the year. On July 25, 2016, in
Alexandria, Virginia, two Noodles & Company employees refused to serve a uniformed police officer. The officer left the restaurant and reported the incident, which gained regional news coverage. The company issued an apology and terminated the employees involved in the incident. In 2017, the company planned to close 55 underperforming restaurants, but also planned to open 14 to 17 new locations. It also launched a
pilot test in the Colorado Springs and Kansas City markets. The test included a new name, Noodles World Kitchen, as well as new menu items, customizations, rapid pick-up service, and a rewards program. In September 2025, the company announced it would consider strategic alternatives including refinancing of existing debt, refranchising or a sale of all or part of the business. Since the company began trading publicly on June 28, 2013, shares had lost over 98% of their value leading up to the announcement of the strategic review. ==Menu and restaurants==