Jamba, Inc. Posts Update on Refranchising Initiative
29 July 2015 - 10:30PM
Business Wire
Jamba® Continues Move to Asset-Light Model;
Nears Completion of Refranchising Initiative
Jamba, Inc. (NASDAQ:JMBA) a leading health and wellness brand
and leading retailer of freshly-squeezed juice today posted an
update of its ongoing efforts to transition to an asset-light
model. With the closing of a multi-market deal announced yesterday,
Jamba has completed a significant portion of its ongoing
refranchising initiative.
Jamba announced the refranchising initiative at the end of 2014,
with a stated goal of refranchising “up to 114” stores during 2015.
The Company has significantly exceeded its initial goal with closed
deals today representing 150 stores. The Company expects that deals
for 74 additional stores will be refranchised for three California
markets by the end of 2015 and the Chicago/Midwest market by the
first quarter of 2016. At the end of 2015 we expect to be at 90%+
franchise organization.
“We are pleased with the progress we continue to make in our
refranchising efforts,” stated James D. White chairman, president
and CEO of Jamba. “As we move ahead on the Company’s commitment to
an asset light model, these deals position us well to reach our
goal of generating $60 - $70 million of cumulative cash proceeds
from refranchising in 2015.”
About Jamba Juice Company
Founded in 1990, Jamba, Inc. is a leading restaurant retailer of
better-for-you, specialty beverage and food offerings, which
include great tasting, whole fruit smoothies, fresh squeezed juices
and juice blends, hot teas, and a variety of food items including
hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™,
baked goods, and snacks. As of June 30, 2015, there were 807 Jamba®
stores system-wide in the United States, of which 601 are
franchise-operated stores, and 206 are Company-owned. Jamba is a
proud sponsor of "Team Up for a Healthy America" in the fight
against childhood obesity and encourages fans to join the Team Up
community of celebrities, athletes, and other leaders committed to
getting kids active and involved at www.myhealthpledge.com. Fans of
Jamba Juice can find out more about Jamba Juice's locations as well
as specific offerings and promotions by visiting the Jamba Juice
website at www.JambaJuice.com or by contacting Jamba's Guest
Services team at 1-866-4R-FRUIT (473- 7848).
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are those involving future events
and future results that are based on current expectations,
estimates, forecasts, and projections as well as the current
beliefs and assumptions of the Company’s management. Words such as
“outlook”, “believes”, “expects”, “appears”, “may”, “will”,
“should”, “anticipates”, or the negative thereof or comparable
terminology, are intended to identify such forward looking
statements. Any statement that is not a historical fact is a
forward-looking statement. Forward- looking statements are only
predictions and are subject to risks, uncertainties and assumptions
that are difficult to predict. Therefore actual results may differ
materially and adversely from those expressed in any
forward-looking statements. You should not place undue reliance on
forward-looking statements. The Company does not assume any
obligation to update the information contained in this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20150729005511/en/
ICRDara Dierks, 203-682-8200investors@jambajuice.comorJamba
JuiceMike Fuccillo, 510-596-0100, X-7Dir. Corporate
Communicationsmfuccillo@jambajuice.com
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