Jamba Juice and Venus Williams Sign Letter of Intent to Open Jamba Stores in D.C. Market
Joint Venture Brings Healthy Lifestyle Solution to D.C. Area by One of the World's Most Highly Regarded Athletes
EMERYVILLE, Calif., Apr 20, 2011 (BUSINESS WIRE) -- Jamba Juice Company (NASDAQ: JMBA) andVenus Williams announced today the signing of a non-binding letter of intent to form a joint venture to develop up to five Jamba Juice stores in the Washington D.C./Maryland marketplace over the next two years. The venture will also provide a platform for a long-term relationship, which would provide Ms. Williams' organization with the certain exclusive rights to franchise the Jamba Juice brand throughout the Washington D.C./Maryland marketplace. The terms of the arrangement are expected to be finalized within the next 60 days and the first store to open later this summer.
The two organizations' goal in establishing this partnership is to leverage the strength of their respective brands to promote health and wellness in the D.C. area and to work together to help promote lifestyle changes to fight childhood obesity. In addition, the expansion of Jamba stores in this marketplace will help promote economic development and provide job opportunities for local residents.
"I have been a long-time fan of Jamba Juice and its mission to help inspire and simplify healthy living," said Venus Williams, tennis star and entrepreneur. "Regardless of the venue -- whether I am on the tennis court or on an interior design project - keeping fit and eating healthy are critical to ensuring I maintain peak performance. Jamba offers a fantastic line-up of tasty, better-for-you products that I can feel good about eating. I am excited to be a part of Jamba and, through that partnership, to be bringing a healthy lifestyle brand to the D.C. METRO area that can offer others an easy way to maintain their focus on staying active and eating right."
"Venus is a legend in the sports world, an entrepreneur, and a role model who serves as an inspiration for anyone seeking to achieve new heights in their personal or professional lives. In her we found a partner as committed as we are to enabling people to lead healthier, more active lifestyles and who wants to help people find simple solutions to eating better," stated James D. White, chairman, president and CEO, Jamba Juice Company. "Regardless of her endeavor, Venus goes after everything with gusto and a motivation to win. And she is committed to helping others succeed too. Her support for a brand like Jamba that brings great tasting, better-for-you, convenience to eating healthier is a win for everyone."
Jamba sells a variety of food and beverage products including whole fruit smoothies, fresh squeezed juices, hot beverages, wraps, salads, sandwiches, frozen yogurt, and a variety of baked goods.
White noted, "This partnership is a perfect match between two brands that are both passionate about creating viable and healthy communities while helping people achieve their lifestyle goals of being more active and eating better."
Jamba Juice Company plans to develop 50 to 70 traditional and non-traditional store locations in 2011 and is currently awarding franchise opportunities to passionate individuals who desire to be a part of a popular and sought-after healthy, active lifestyle brand. For more information about joining the Jamba Juice team visit http://www.jambafranchise.com.
About Jamba Juice Company
Jamba, Inc. (NASDAQ: JMBA) is a holding company which through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE(R) stores. Founded in 1990, Jamba Juice is a leading destination for specialty better-for-you beverage and food offerings, including great tasting whole fruit smoothies, fresh squeezed juices, hot beverages including organic coffee and tea, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, California Flatbreads(TM), premium frozen yogurt, and a variety of baked goods and snacks. Jamba-branded products for at-home enjoyment are also available through select retailers across the Nation. As of April 18, 2011, Jamba Juice had 744 locations consisting of 308 company-owned and operated stores and 436 franchise stores. For more information about Jamba Juice visit our website at www.jambajuice.com or call 1-866-4R-FRUIT (473-7848).
About Venus Williams
Venus Williams became a professional tennis player at age 14, beating the #50 player in the world in her first match. The first African-American to reach the number one ranking as a professional in either the men's or women's game, Williams continues to be ranked at the very top of the professional rankings. She graduated cum laude with a degree in fashion design from the Art Institute of Ft. Lauderdale. Forbes magazine recently named Ms. Williams on many lists including: The World's Most Powerful Women and the Top 100 Most Powerful Celebrities. In addition to her professional tennis victories, she has a fashion line, EleVen by Venus Williams, and an interior design firm, V Starr Interiors. A multiple Grand Slam singles champion and three-time Olympic Gold Medalist, Williams resides in Palm Beach Gardens, Florida. Venus Williams' website is http://www.venuswilliams.com.
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. Neither company assumes any obligation to update the information contained in this press release.
SOURCE: Jamba Juice Company