Jamba Juice Franchise Announces Additional Progress Against Refranchising Initiative
Jamba Enters Into 13 Store Purchase Agreement in the Florida Market
EMERYVILLE, Calif. -(BUSINESS WIRE)- Jamba Juice, (NASDAQ: JMBA), a highly recognized, healthy active lifestyle brand with a portfolio of over 30 custom blended smoothies and delicious better- for-you menu offerings, announced today the signing of a purchase agreement for 13 stores in Florida with highly experienced and former international master brand, multi-unit franchise operators, Arturo Zindel, Jordi Zindel, Guillermo Perez Vargas, and Angel Herrera, principals of Great Service Restaurants, LLC (GSR). The 13 stores represented in this purchase agreement supplement the 102 previously refranchised stores and will lead to the achievement of almost 80 percent of the Company's refranchising initiative. This recent transaction is expected to close in early October 2010.
"We are very excited about the opportunity to expand Jamba Juice's healthy, delicious offerings and presence in the South Florida Market. We are sure our local involvement and hands on approach to delivering superior product and service will satisfy and increase the loyal customer base Jamba Juice has developed over the years," commented Mr. Zindel.
In conjunction with this agreement, GSR committed to further expand the Jamba Juice brand by developing nine additional stores in southeastern Florida. This development activity will contribute to Jamba's growing presence in the Florida market and overall expansion plans for the East Coast.
"Florida is a prime location for Jamba Juice and we see a tremendous opportunity for growth in this market," said Thibault de Chatellus, senior vice president, Global Franchise and Development, Jamba Juice Company. "The GSR team has tremendous franchise operations experience. They also have strong ties to the community which gives them a hometown advantage to engage with customers and local businesses, drive broader awareness of the Jamba Brand, and increase traffic to their stores."
"I am exceptionally pleased with our franchise development progress," stated James D. White, chairman, president, and CEO, Jamba Juice Company. "We are making excellent gains against our expansion goals to bring Jamba Juice to more fans across the country and are nearing achievement of our goal to refranchise up to 150 stores by year end."
Jamba is currently awarding franchise opportunities in select markets across the country. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 311 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 July 13, 2010, Jamba Juice had 743 locations consisting of 432 company-owned and operated stores and 311 franchise stores.
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 projections 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.