Jamba, Inc. Announces Refranchising and Development Agreement in Chicago Market
FRISCO, Texas--(BUSINESS WIRE)--Jun. 21, 2017-- Jamba, Inc. (NASDAQ:JMBA), announced today, current franchisee, SuSu Hospitality Group, LLC, has acquired 13 Company-owned stores and signed a 10-unit development agreement, to nearly double Jamba’s footprint in the Chicago market.
“Jamba accelerated its shift to an asset-light, franchise focused business model in 2014 to create shareholder value,” said Dave Pace, President and Chief Executive Officer of Jamba, Inc. “When I started as CEO last year, we identified the Chicagomarket as the final step necessary to complete that journey. With today’s announcement, I am pleased to share the asset light transition is substantially complete.”
Pace continued, “It was important to find the right partner to continue our growth in Chicago. SuSu Hospitality Group shares our mission to inspire and simplify healthy living and has a proven track record of operating excellence, making them an ideal partner.”
SuSu Hospitality Group, LLC is an incubator, investor and operator of extraordinary food concepts. With the acquisition of 13 stores complete, SuSu Hospitality Group, LLC now franchises 15 Jamba Juice locations across Illinois and Ohio.
"We are delighted to expand our market presence and strengthen our relationship with the Jamba brand,” said Sunil Bedi, Chief Executive Officer of SuSu Hospitality Group, LLC. “Jamba’s fresh, hand-crafted blends offer guests convenient, great tasting and nutritious options that complement the active lifestyle in Chicago. We look forward to the long-term growth of Jamba in this market,” added Suchita Bedi, President of SuSu Hospitality Group, LLC.
Jamba is currently awarding domestic and international franchise opportunities. For more information, please visit http://www.jambajuice.com/company-info/franchise-opportunities.
About Jamba, Inc.
Jamba, Inc. (NASDAQ: JMBA) through its wholly-owned subsidiary, Jamba Juice Company, is a healthful, active lifestyle brand with a robust global business driven by a portfolio of franchised and company-owned Jamba Juice ® stores and Jamba Juice Express™ formats. Jamba Juice ® is a leading restaurant retailer of “better-for-you” specialty beverage and food offerings which include flavorful, whole fruit and vegetable smoothies, fresh squeezed juices and juice blends, Energy Bowls™, signature “boosts”, shots and a variety of food items including: hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods and snacks.
There are over 900 Jamba Juice store locations globally, as of January 3, 2017. For more information visit www.jambajuice.com or contact Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
Source: Jamba, Inc.