Noble Roman's Announces the Signing of a Development Agreement with Majors Management, LLC for 100 New Noble Roman's Locations

INDIANAPOLIS, IN / ACCESSWIRE / October 31, 2023 / Noble Roman's, Inc. (OTCQB:NROM), the Indianapolis-based franchisor of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub, today announced the signing of a Development Agreement with Majors Management, LLC for 100 new Noble Roman's franchise locations. Majors is one of the recognized leaders in the southeastern United States at developing, operating and supporting convenience stores and larger travel plazas. Development of the new Noble Roman's locations will begin in the next few weeks and Majors has committed to having 31 locations open by June 30, 2024, 50 locations open by December 31, 2024, with the remainder of the 100 locations to be open on or before September 30, 2026. The new locations can be developed throughout the 48 contiguous states, but the greater concentration of locations will be in Texas, Alabama, Georgia and Tennessee. Majors paid an upfront fee for the development agreement and will be paying ongoing weekly royalties on sales as each location opens.

In the last few years Majors and their forward-looking management team have successfully integrated numerous acquisitions, including the most recent of over 200 Mapco Express units under contract expected to close on Wednesday, November 1, 2023. This makes the total number of locations owned by Majors more than 800, with more than 600 additional locations distributed by Majors. In the future, Majors plans on expanding Noble Roman's into well beyond the 100 locations now included in the current development agreement.

Both Noble Roman's and Majors consider this development agreement a significant, mutually beneficial opportunity and are looking forward to a long working relationship. Scott Mobley, President & CEO of Noble Roman's, said "We continue to expand franchise partnerships with many exceptional organizations, and we are proud to now count Majors among them. Noble Roman's franchise program for convenience stores and travel plazas is known for high quality, great tasting products, simplicity of operations, tremendous brand presentation and highly affordable start-up and operating costs. Sought after by quality operators of all sizes, we are happy to have a forward-thinking market leader like Majors come alongside and partner with us." Ben Smith, President of Majors, said "As an organization, we have a passion for success, service excellence and industry innovation. Noble Roman's pizza-focused foodservice program and their senior management team stood out as the obvious choice for us to partner with in our effort to offer the best food program in our locations. A well-conceived food program is now an essential element in the convenience store and travel plaza industry, and Noble Roman's checked off every feature we need to excel."