Noodles & Co. Eyes a Big Future, Files For IPO

Noodles & Co. has become the first fast-casual concept to file for an initial public offering this year. The Broomfield, Colo.-based chain’s long-anticipated IPO, filed May 23, seeks to raise up to $75 million with the goal of repaying debt and growing nationally. There were eight foodservice industry IPOs in 2012, but none were fast-casual chains.

Founded in 1995, the 339-unit chain has 288 company locations and 51 franchised stores in 25 states. Noodles & Co. is owned by private-equity firm Catterton Partners, along with Argentia Private Investments.