Jamba Juice Announces Increased Credit Agreement of $15 Million
EMERYVILLE, Calif.--(BUSINESS WIRE)--Jul. 24, 2013-- Jamba Juice Company (NASDAQ:JMBA) today announced that the Company has increased its credit agreement with Wells Fargo Bank, National Association ("Wells Fargo Bank") to $15 million. The amended Credit Agreement with Wells Fargo Bank expires on June 30, 2016.
"We are pleased to continue our strong relationship with Wells Fargo and believe that this agreement speaks to the growing financial strength of the Company as we continue to build on our growth initiatives," stated James D. White, chairman, president and CEO, Jamba Inc. "We do not anticipate the need to borrow against the line, but felt that it was necessary to have additional working capital from which to fund current and future growth initiatives."
About Jamba Juice Company
Founded in 1990, Jamba Juice Company (NASDAQ: JMBA) is a leading restaurant retailer of better-for-you, specialty beverage and food offerings, which include great tasting, whole fruit smoothies, fresh squeezed juices and juice blends, hot coffee and teas, hot oatmeal, breakfast wraps, sandwiches and mini-wraps, California Flatbreads™, 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 and in Jamba outlets. As of April 2, 2013, there were 820 Jamba Juice store locations globally. Jamba is a proud sponsor of "Team Up for a Healthy America" in the fight against childhood obesity and encourages fans to join the Team Up community of celebrities, athletes and other leaders committed to getting kids active and involved at www.myhealthpledge.com. Fans of Jamba Juice can find out more about Jamba Juice's locations as well as specific offerings and promotions by visiting the Jamba Juice website at www.JambaJuice.com or by contacting Jamba's Guest Services team at 1-866-4R-FRUIT (473-7848).
This press release (including information incorporated or deemed incorporated by reference herein) contains "forward-looking statements" within the meaning of the Private SecuritiesLitigation 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 the Company's 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 and any other 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 factors discussed under the section entitled "Risk Factors" in the Company's reports filed with the SEC. Many of such factors relate to events and circumstances that are beyond the Company's 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