Existing Franchise Operators in Oregon Purchase Nine Jamba Juice Restaurants
EMERYVILLE, Calif.--(BUSINESS WIRE)--Jul. 1, 2009--
Jamba, Inc. (Nasdaq: JMBA) announced today the sale of nine restaurants
as part of its ongoing strategic refranchising program that was
announced May 28, 2009. The overall refranchising initiative is expected
to involve about 150 Company-owned restaurant locations primarily
outside of California.
The Company completed the sale of nine restaurants in Oregon to The
Cinnamon Bums, Inc. (“TCBI”), an existing Jamba Juice franchisee
currently operating nine other Jamba Juice restaurants in the Northwest
region. With the purchase of these additional restaurant outlets in
Oregon, TCBI principals, John Whittaker and Steve Foltz, now own 18
Jamba Juice restaurant locations and have committed to building three
new Jamba Juice restaurants in the Oregon market.
“We are always looking for the right opportunities to expand our
restaurant portfolio,” commented John Whittaker, a principal of TCBI.
“We felt the program offered by Jamba, with their dedicated training and
support for franchisees, their brand strength, and their commitment to
growth, was the right concept in which to further our investment.”
“I love this brand because it makes it easy to enjoy a healthy lifestyle
--I drink them all the time and have even started running since becoming
a Jamba franchisee,” added Steve Foltz, a principal of TCBI. “Aside from
inspiring healthy living, Jamba is one of the only quick serve
restaurant concepts that covers four day parts...breakfast, lunch,
dinner and snacks. This is a great addition to our company and for our
“John and Steve are multi-franchise operators with over fifty years of
restaurant experience between them and we are very pleased to have the
opportunity to expand our relationship with such committed and
successful business operators,” said Thibault de Chatellus, SVP of
Global Franchise and Development, Jamba, Inc. “The sale of these
restaurants will further consolidate our presence in the market and
position our brand for greater growth.”
This refranchising transaction builds on the sale of ten Jamba Juice
restaurants in Arizona to another existing franchisee in March 2009.
“The sale of the Arizona restaurants to an existing franchisee in March
and now these restaurants in Oregon to current franchisees John and
Steve, is outstanding news,” commented James D. White, President and
Chief Executive Officer, Jamba, Inc. “It is a testament to the strength
of the Jamba Juice brand that our existing franchise operators are
seeking expansion opportunities with us when they have so many other
alternatives in which to invest their capital.”
To learn more about franchise opportunities contact Jamba at http://www.jambajuice.com/#/us_franchise.
For information on the Company's refranchising initiative, contact the
Praetorian Group at 1-888-358-3325 or www.praetoriangroup.net.
About Jamba, Inc.
Jamba, Inc. (Nasdaq:JMBA) is a holding company and through its
wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA
JUICE® stores. Founded in 1990, Jamba Juice is a leading
restaurant retailer of better-for-you food and beverage offerings,
including great tasting fruit smoothies, juices, teas, hot oatmeal made
with organic, steel cut oats, and baked goods. As of April 21, 2009,
JAMBA JUICE had 732 locations consisting of 499 company owned and
operated stores and 233 franchise stores. For the nearest location or a
complete menu, visit the JAMBA JUICE website at www.jambajuice.com
or call 1-866-4R-FRUIT.
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 projects 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.
Don Duffy, 203-682-8200