EMERYVILLE, Calif.--(BUSINESS WIRE)--Feb. 22, 2012--
Jamba, Inc. (NASDAQ:JMBA) today announced that the Company has entered
into $6.0 million credit agreement with Wells Fargo Bank, National
Association. The credit agreement with Wells Fargo Bank expires on
January 31, 2013 and speaks to the growing financial strength of the
Company as momentum builds on its transformation efforts.
"We are pleased to partner with Wells Fargo. We have built a strong
relationship and established a solid foundation of proven performance to
enable the commencement of this initial credit agreement. While our
current plans do not anticipate the need to borrow against the line, we
like the fact that we have additional working capital from which to fund
future growth,” stated James D. White, chairman, president and CEO,
About Jamba, Inc.
Jamba, Inc. is a holding company which owns and franchises, on a global
basis, Jamba Juice stores through its wholly-owned subsidiary, Jamba
Juice Company. Founded in 1990, Jamba Juice Company (NASDAQ: JMBA) is a
leading restaurant retailer of better-for-you beverage and food
offerings, which include great tasting fruit smoothies, fresh juices and
teas, hot oatmeal made with organic steel cut oats, fruit and veggie
smoothies, Whirl’ns™ Frozen Yogurt, breakfast wraps, sandwiches and
wraps, California Flatbreads™, and a variety of baked goods and snacks.
As of January 3, 2012, there were 750 locations in the United States
consisting of 307 Company-owned and operated stores and 443
franchise-operated stores. In addition, as of January 3, 2012 there were
19 international locations. For more information on Jamba Juice, please
become a fan on Facebook at www.facebook.com/jambajuice
or follow us on Twitter @JambaJuice.
This press release (including information incorporated or deemed
incorporated by reference herein) contains “forward-looking statements”
within the meaning of the Private 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.
For Jamba, Inc.
Don Duffy, 203-682-8200