Noble Roman’s CEO to remain on company’s board for now
A major shareholder of the Indianapolis-based company had been attempting to get its own CEO elected to the board instead.
A major shareholder of the Indianapolis-based company had been attempting to get its own CEO elected to the board instead.
West Fargo, North Dakota-based restaurant operator BT Brands Inc. filed a proxy statement this month asking shareholders to vote for its own CEO, Gary Copperud, rather than reelect Noble Roman’s CEO Scott Mobley to the five-member Noble Roman’s board.
If Noble Roman’s Craft Pizza & Pub takes off, the company might franchise dozens of restaurants across the state.
The company said it took a $1.4 million loss in the third quarter from discontinuing operations in its standalone take-and-bake restaurant operations. It plans to focus on a new restaurant concept that will debut in January.
An Atlanta-based activist investor that had blasted Noble Roman’s Inc.’s management and called for the company’s sale has reversed course.
Noble Roman’s Inc. sells and services franchises and licenses for non-traditional foodservice operations and stand-alone take-n-bake locations under the trade names “Noble Roman’s Pizza,” “Noble Roman’s Take-N-Bake” and “Tuscano’s Italian Style Subs.”
The Indianapolis company has been trying to juice growth by franchising stand-alone take-and-bake pizza stores and by selling freshly made take-and-bake pizzas in grocery stores nationwide.
The Indianapolis-based company in the past two months has increased its supermarket presence and hired an executive to oversee grocery operations, while securing more financing to help achieve the growth.
Indianapolis-based Noble Roman’s Inc. sells and services franchises and licenses for non-traditional foodservice operations and stand-alone take-n-bake locations under the trade names “Noble Roman’s Pizza,” “Noble Roman’s Take-N-Bake” and “Tuscano’s Italian Style Subs.”
Two hedge funds have been beefing up stakes in Indianapolis-based Noble Roman’s, a 43-year-old pizza chain with a depressed stock price and an evolving business model.
Indianapolis-based Noble Roman’s Inc.sells and services franchises and licenses for non-traditional foodservice operations and stand-alone take-n-bake locations under the trade names “Noble Roman’s Pizza," “Noble Roman’s Take-N-Bake” and “Tuscano’s Italian Style Subs.”
The Indianapolis-based franchisor continues to focus on offering take-and-bake pizzas in grocery stores and stand-alone locations to grow revenue.
The Indianapolis-based pizza chain is still waiting to collect after being locked in a years-long legal dispute over franchise agreements and royalties.
The company said it has entered into agreements to open 45 stand-alone take-n-bake pizza locations.
Since October, franchisees have opened the first seven stand-alone, take-and-bake locations—dubbed Noble Roman’s Take-n-Bake P’ZA. Nine more are in development or under construction.
Noble Roman’s Inc. has baked up an idea to expand its franchising opportunities nationwide and dramatically increase revenue. The Indianapolis-based pizza company is rolling out plans for a stand-alone, take-and-bake concept designed to rival Papa Murphy’s.
The pizza franchisor earned $365,079 in the quarter ended March 31. But it continues to see more growth from take-n-bake products in grocery stores.
Green Mountain Coffee Roasters Inc. has stripped founder Robert P. Stiller of his position as chairman after he sold shares to meet a margin call at a time when the company’s trading policies prohibited such sales.
Indianapolis-based Noble Roman’s Inc. is a franchisor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs restaurants. Some outlets are stand-alone, while others are in non-traditional locations, such as universities, convenience stores, travel plazas and military bases.
Noble Roman’s saw royalties and fees from traditional franchises decrease last year, but royalties and fees from non-traditional franchises increased, and the company saw more growth from take-n-bake products.