INDIANAPOLIS Noble Roman’s Inc., the franchisor of about 1,000 namesake pizza outlets and Toscano Italian Style Subs in 45 states, said it was “evaluating strategic alternatives to enhance shareholder value,” a term that often foreshadows a sale or refinancing.
Roth Capital Partners of Newport Beach, Calif., has been retained as a financial adviser to assist in the effort, the company said in a statement.
Noble Roman’s carries roughly $5.5 million in debt. The company reported last week that its 2007 earnings grew 31.3 percent over the prior year’s tally. Revenues were $11.6 million, compared with $9.5 million posted for 2006.
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