Jamba Completes the Sale of 25 Locations in Washington
EMERYVILLE, Calif. --(// BUSINESS WIRE //)-- Jamba, Inc, (NASDAQ:JMBA) today announced the sale of 25 restaurants in Washington to existing franchisee, Prudence Swann, principal of PB Swann, LLC. The agreement includes a commitment to further expand the Jamba Juice brand by developing two additional stores in the Seattle market.
"With the choices in restaurant franchises available for investment, we are thrilled that PB Swann, one of our existing franchise operators, has chosen to expand her relationship with us. Prudence is a first class operator and her investment speaks to her belief in the strength and growth potential of the Jamba brand," said Thibault de Chatellus, Senior Vice President, Global Franchise and Development, Jamba Juice Company.
"The completion of the sale of 81 restaurants is a huge accomplishment for our Company. Our team has been working hard on this initiative and it's clearly paying off. We fully expect to have the refranchising initiative completed by the close of 2010," said James D. White, Chairman, President and CEO, Jamba, Inc.
Jamba Juice expects to add up to 50 new domestic franchise locations in 2010. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 287 currently operating franchise stores.
The Company is committed to strategically growing the Jamba brand and refranchising is one component of a broader plan for achieving that goal. To learn more about franchise opportunities contact Jamba at http://www.jambajuice.com/#/us_franchise. For information on the Company's refranchising initiative, contact The Praetorian Group at 1-888-358-3325 or visit their website at www.praetoriangroup.net
About Jamba, Inc.
Jamba, Inc. (NASDAQ:JMBA) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE® stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads™, and a variety of baked goods and snacks. As of April 20, 2010, Jamba Juice had 745 locations consisting of 458 company-owned and operated stores and 287 franchise stores.
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 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 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.
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