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Jamba, Inc. Announces Progress on Refranchising with Sale of Eight California Locations

Business Wire
posted: 6 DAYS 19 HOURS AGO
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Jamba, Inc. (NASDAQ: JMBA) announced today the sale of eight restaurants in California to Swirl Partners, LLC, whose principals are David Wagonfeld and Scott Maltz. This sale reflects the Company’s continuing progress under its strategic refranchising program and builds on the sale of 27 restaurants in 2009 to existing Jamba Juice franchise owners in Arizona, Oregon, and California.
“With consumer trends accelerating in the demand for healthier food options, Jamba, with our health and wellness oriented menu, represents a powerful and attractive option for brand ownership,” commented James D. White, president and Chief Executive Officer, Jamba, Inc. “We are thrilled to have David and Scott join the franchise team. They both bring tremendous business experience to the table.”
“We are excited to become the newest members of the Jamba Juice franchise organization,” stated David Wagonfeld. “The Company has undergone a significant transformation in the past year, especially with the launch of their new food offerings and their upcoming launch of hot beverages.”
“We see tremendous opportunity for growth with the Jamba brand,” added Scott Maltz.
The overall refranchising initiative is expected to involve the refranchising of up to 150 company-owned restaurant locations, primarily outside of California, and with a goal to be completed by the close of 2010.
Jamba was assisted in the close of this transaction by the Praetorian Group, franchise transaction specialists. For more information about the Company’s refranchising initiative, contact Praetorian at 1-888-358-3325 or wwww.praetoriangroup.net. To learn more about franchise opportunities contact Jamba at http://www.jambajuice.com/#/us_franchise.
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, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads™, and a variety of baked goods and snacks. As of October 6, 2009, Jamba Juice had 742 locations consisting of 488 company-owned and operated stores and 254 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.
Forward-looking Statements
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.
Copyright Business Wire 2010
2010-02-03 16:01:00
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