Jamba Announces New $6.0 Million Credit Agreement
EMERYVILLE, Calif.--(BUSINESS WIRE)--Feb. 22, 2012-- Jamba, Inc. (NASDAQ:JMBA) today announced that the Company has entered into $6.0 million credit agreement with Wells Fargo Bank, National Association. The credit agreement with Wells Fargo Bank expires on January 31, 2013 and speaks to the growing financial strength of the Company as momentum builds on its transformation efforts.
"We are pleased to partner with Wells Fargo. We have built a strong relationship and established a solid foundation of proven performance to enable the commencement of this initial credit agreement. While our current plans do not anticipate the need to borrow against the line, we like the fact that we have additional working capital from which to fund future growth,” stated James D. White, chairman, president and CEO, Jamba Inc.
About Jamba, Inc.
Jamba, Inc. is a holding company which owns and franchises, on a global basis, Jamba Juice stores through its wholly-owned subsidiary, Jamba Juice Company. Founded in 1990, Jamba Juice Company (NASDAQ: JMBA) is a leading restaurant retailer of better-for-you beverage and food offerings, which include great tasting fruit smoothies, fresh juices and teas, hot oatmeal made with organic steel cut oats, fruit and veggie smoothies, Whirl’ns™ Frozen Yogurt, breakfast wraps, sandwiches and wraps, California Flatbreads™, and a variety of baked goods and snacks. As of January 3, 2012, there were 750 locations in the United States consisting of 307 Company-owned and operated stores and 443 franchise-operated stores. In addition, as of January 3, 2012 there were 19 international locations. For more information on Jamba Juice, please visit: www.jambajuice.com, become a fan on Facebook at www.facebook.com/jambajuice or follow us on Twitter @JambaJuice.
Forward-looking Statements
This press release (including information incorporated or deemed incorporated by reference herein) contains “forward-looking statements” within the meaning of the Private 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 projects as well as the current beliefs and assumptions of our 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, including estimates, projections, future trends and the outcome of events that have not yet occurred, 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. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under the section entitled “Risk Factors” in our reports filed with the SEC. Many of such factors relate to events and circumstances that are beyond our control. 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.
Source: Jamba, Inc.
Contact:
Investor Relations For Jamba, Inc.
Don Duffy
203-682-8200
investors@jambajuice.com
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