Jamba, Inc. Nears Completion of Refranchising Efforts with 16-Store California Bay Area Deal
29 October 2015 - 11:30PM
Business Wire
Jamba® Transition to Asset-Light Model Nets 90%
of Stores Franchise Operated
Jamba, Inc. (NASDAQ:JMBA) a leading health and wellness brand
and leading retailer of freshly-squeezed juice noted continued
progress in its ongoing effort to transition to an asset-light
model with the announcement today of a 16-store refranchising deal.
With this deal Jamba is nearing completion of the Company’s current
refranchising efforts with 90% of stores now franchise owned and
operated.
This latest refranchising agreement encompasses locations in the
Bay Area, including stores in San Francisco, Berkeley, Oakland, and
other key Bay Area markets. The stores will be owned and operated
by Valley Juice, LLC. run by a new Jamba franchisee Dwayne
Redmond.
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 as the new
deal will bring the total stores refranchised in 2015 to 179, with
plans to close an additional deal before by the end of the
year.
“We are pleased with our progress as we close in on the
completion of our refranchising efforts,” stated James D. White
chairman, president and CEO of Jamba. “This deal positions us well
to finish our transition to an asset-light model ahead of
schedule.”
"We are very excited to join the Jamba team with this
acquisition of 16 new stores," said Dwayne Redmond, president,
Valley Juice, LLC. "We look forward to long-term success with this
fantastic brand."
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151029005447/en/
ICRDara Dierks, (203) 682-8200investors@jambajuice.comorJamba
JuiceMike Fuccillo, 510-596-0100, X-7Dir. Corporate
Communicationsmfuccillo@jambajuice.com
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