Jamba Juice to Open 200 Stores in South Korea
SPC Group Expands Jamba Brand into First Major International Market
EMERYVILLE, Calif.--(BUSINESS WIRE)-- Jamba, Inc (NASDAQ:JMBA) today announced that the Company has signed a master development agreement with Paris Croissant, an affiliate of the SPC Group, to develop 200 Jamba Juice locations in South Korea over the next 10 years. The first Jamba Juice location is scheduled to open in 2010.
The SPC Group ("SPC") is a leading specialty food company with over 4,500 retail locations in Korea across several brands. SPC is the leading bakery company in Korea with Paris Baguette, their retail bakery store brand, and popular consumer baked goods labels such as Shany and Samlip. SPC also operates two major US-based coffee and ice cream retail brands in Korea.
"We are honored to partner with SPC. The quality and reputation of their management team and their proven ability to develop brands and create a new dietary culture and lifestyle in Korea made them the ideal partner to launch the Jamba brand in this core market in Asia. We look forward to working with SPC's management team to give the Korean consumers an opportunity to experience Jamba's better for you and great tasting food and beverages," said Thibault de Chatellus, Senior Vice President, Global Franchise and Development, Jamba Juice Company. "This expansion is a key step in our strategy of becoming a global healthy, active lifestyle brand."
"We believe the expansion of our business portfolio to include Jamba Juice, a brand that has been inspiring and simplifying healthy living for 20 years, will allow SPC to capitalize on the growing consumer demand for healthier food and beverages," said Young-In Hur, President and CEO, SPC Group. "We made a strategic decision to focus on brands recognized for healthier menu options and Jamba Juice was a perfect fit. Their better-for-you, great tasting product offerings will complement our overall brand portfolio."
In addition to expanding into one international market, 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.
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.
About SPC Group
SPC Group, founded in 1945 has grown into a food specialty company based on baking technology and know-how accumulated over 65 years. Today, SPC operates over 4,500 stores and is actively developing franchises and its bakery business through affiliates such as Paris Croissant, BR Korea (Baskin Robbins, Dunkin' Donuts), Shany and Samlip General Foods. SPC has grown into a global company through its affiliates SPC Logistics, SPC Capital, and local corporations in China and the United States.
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.