Jamba Juice and International Franchise Inc. Sign a Non-Binding Letter of Intent for Canadian Franchise Development
Relationship Offers Potential Opportunity to Expand Jamba Brand in Canada
EMERYVILLE, Calif., Nov 09, 2010 (BUSINESS WIRE) -- Jamba Juice Company (NASDAQ: JMBA), a widely recognized healthy, active lifestyle brand announced today that they had entered into a non-binding letter of intent with International Franchise Inc., a world leader in the franchising segment and a significant global player in the frozen dessert category, for the franchise development of up to 125 locations across Canada over the next 10 years.
"We are excited about the potential to enter our second international market in Canada through the formation of a franchise relationship with International Franchise Inc.," commented James D. White, chairman, president, and CEO, Jamba Juice Company. "The successful completion of these discussions would represent another critical step in our strategy of becoming a global healthy, active lifestyle brand."
The non-binding letter of intent aims to provide a structure for the establishment of a long-term relationship, which would give International Franchise Inc. the generally exclusive rights to the franchising of the Jamba Juice brand throughout the Canadian marketplace.
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(R) 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(TM), 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. For the nearest location or a complete menu, visit the Jamba Juice website at www.jambajuice.com or call 1-866-4R-FRUIT (473-7848).
About International Franchise Inc.
International Franchise Inc., a Nova Scotia corporation ("IFI") is in the business of franchising and licensing retail outlets serving frozen yogurt and ice cream, primarily under the "Yogen Früz", "Swensen's", "Bresler's" and "I Can't Believe It's Yogurt," trademarks. The Company, a world leader in the franchising segment, which does business in 32 countries around the world under master franchise/license arrangements, positions itself as a significant global player in the frozen dessert category, ensuring that it stays at the cutting edge of new product development which allows it to quickly take advantage of new trends and patterns in this sector.
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.
SOURCE: Jamba Juice Company