Jamba Signs Second International Franchise Agreement to Open 40 Stores in Philippines
Max's Group of Companies Brings Healthy, Active Lifestyle Jamba Brand to Filipino Fans
EMERYVILLE, Calif., Apr 25, 2011 (BUSINESS WIRE) -- Jamba, Inc. (NASDAQ:JMBA) today announced that the Company has signed a master development agreement with Max's Group of Companies, a well-established restaurant and franchise operator, to develop 40 Jamba Juice locations in the Philippines over the next 10 years. The first Jamba Juice location is scheduled to open in late 2011.
Max's Group of Companies currently operates three brands in the Philippines, including Max's Restaurant, a well-known casual dining restaurant chain founded in 1945, which now has over 100 locations and a growing presence internationally. The partners for Max's Group of Companies collectively represent four families and three generations of experience owning and operating restaurants as both franchisees and franchisors. Max's Group of Companies also operates a major US-based coffee and doughnut brand in the Philippines.
"The partners at Max's Family of Companies are highly experienced restaurant and franchise chain operators with 120 restaurants in the Philippines and nine in Canada and the U.S. We could not have found a better team with whom to partner as we enter our second major international market," said Thibault de Chatellus, senior vice president, Global Franchise and Development, Jamba Juice Company. "We expect a strong and positive reception as Jamba already enjoys some awareness among Filipinos who have traveled in the U.S."
"We are long-time fans of Jamba and think the brand is a perfect fit for our restaurant portfolio. In the health and wellness restaurant space, Jamba provides a wonderful assortment of great tasting, on-the-go products that make eating healthier simpler," said Sharon Fuentebella, executive vice president, Max's Group of Companies. "Given our hot and humid climate, we believe that Jamba Juice is the perfect option to satisfy Filipinos desire for beverages and snacks that are not only better-for-you, but are also deliciously refreshing."
In addition to expanding into its second international market, Jamba Juice expects to add up to 50 to 70 new domestic traditional and non-traditional franchise locations in 2011. Jamba is currently awarding franchise opportunities in select markets around the globe. This recent franchise development activity reflects the accelerated pace growth for the Company and supplements the 436 currently operating franchise stores. For more information about joining the Jamba Juice team, visit, jambafranchise.com.
About Jamba, Inc.
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 Max's Group of Companies
Max's Group of Companies is a registered Filipino-owned corporation that was established in 1945. Max's transitioned from a small cafe in Scout Tuason, Quezon City to become one of the most established corporations in the Philippines today with 120 local branches, 9 branches in Canada and the United States, and ongoing plans to reinforce its global expansions. Max's Group of Companies owns and manages three of the most competitive and thriving brands in the Philippines - Max's Restaurant, Max's Corner Bakery and Krispy Kreme Philippines.
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, Inc.