EMERYVILLE, Calif. - (BUSINESS WIRE) - Dec. 8, 2014 - Jamba Inc. (NASDAQ:JMBA), a leading health and wellness brand and the leading retailer of freshly squeezed juice, today announced that the Company has engaged Peak Franchise Capital, a leading advisory firm focused on the restaurant industry, to lead its recently-announced refranchising effort. Jamba announced in November plans to refranchise up to 114 stores during the first half of 2015, while also focusing on growth initiatives and reducing expenses.
Peak Franchise Capital, based in Irving, Texas, brings extensive industry knowledge. The company’s principals have executed over $1 billion of transactions. The Peak team will help facilitate the sale of Jamba stores in key California markets, including San Francisco, San Diego, and Sacramento.
"We are excited to engage with Peak on this important initiative," stated James D. White, chairman, president, and CEO, Jamba, Inc. "The Company is committed to working with experienced operators who are financially qualified to grow."
Jamba received considerable interest from prospective franchisee bidders shortly after the November announcement and remains on track to complete its accelerated refranchising program within the first half of 2015. The Company believes it will be in position to achieve its target of at least an 80%+ franchise-to-company-owned model in the next 12 months and remains on track to add 500 additional franchised stores in the next five years, further positioning it as an asset light model. Jamba Juice also recently hosted franchise recruiting events in key markets in the East and Mid-West, which attracted a number of potential new franchise partners.
Jamba is looking forward to existing franchisees and potential new franchisees engaging the refranchising process. Communications for this program should be directed to Peak Franchise Capital (contact information below).
Founded in 1990, Jamba, Inc. 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 teas, and a variety of food items including hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods, and snacks. As of September 30, 2014, there were 862 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).
SOURCE Jamba Inc.
Peak Franchise Capital
Dara Dierks, 646-277-1212
510-595-0100, ext. 7
Dir. Corporate Communications