Jamba, Inc. Increases Share Repurchase Program to $45 Million

EMERYVILLE, Calif. - September 09, 2015 - (BUSINESS WIRE) - Jamba, Inc. (NASDAQ:JMBA), a leading healthy, active lifestyle brand, today announced that its Board of Directors increased its share repurchase authorization from $40 million to $45 million.

The company has repurchased approximately $34.2 million of common stock since the original authorization in November of 2014. The increased authorization leaves approximately $10.8 million of unspent authorization. The authorization expires May 4, 2016 and share repurchases may be made from time to time in the open market or in negotiated transactions depending on share price, market conditions and other factors.

“We are pleased that the Board has agreed to increase our share repurchase authorization for the second time since the program was announced less than a year ago,” said James D. White, chairman, president and CEO of Jamba, Inc. “Capital allocation is a critical element of our go-forward shareholder value creation plan and the Board will continue to monitor all opportunities to deploy additional capital in ways to create value for all our shareholders.”

About Jamba, Inc.

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 June 30, 2015, there were 807 Jamba® stores system-wide in the United States, of which 601 are franchise-operated stores, and 206 are Company-owned. 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).

Forward-Looking Statements

This press release 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 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 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. 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.

Contacts: 

Dara Dierks
ICR
203-682-8200
investors@jambajuice.com

Mike Fuccillo
Jamba Juice
510-596-0100, X-7
Dir. Corporate Communications
mfuccillo@jambajuice.com

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Jimmy John's Sandwiches
One of the fastest growing franchises in the U.S., Jimmy John’s has been making fresh, fast, tasty sandwiches since 1983.
AAMCO Transmissions and Total Car Care
AAMCO franchisees benefit from joining a brand that has been in business for over 50 years. Our iconic, Double A, Beep Beep, M-C-O mnemonic brings...
Roy Rogers Family Restaurants
There is no single factor that accounts for the powerful appeal of the Roy Rogers concept.
Wayback Burgers
Wayback Burgers is strategically poised to grow dynamically. This could be your opportunity to partner with a leader in a rapidly growing food market...
Scooter's Coffee
The success of the Scooter's Coffee franchise is based upon a commitment to quality products, fast and accurate service, and always delivering...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)