Jamba, Inc. (NASDAQ:JMBA), a leading healthy, active lifestyle brand,
announced today the Company’s plans to further accelerate their
refranchising initiative with a goal of becoming a 90% plus
franchise-to-company-owned model by the end of fiscal year 2015.
“We are pleased to announce our plans for the further acceleration of
our refranchise initiative which would result in the Company being a
90%-plus franchise-to-company-owned model by the end of this year,” said
James D. White, chairman, president and CEO of Jamba, Inc. “The initial
phase of our refranchising initiative has proceeded quickly and
efficiently and generated a tremendous amount of interest, giving us a
high level of confidence that our goal of 90%-plus is achievable. We
reaffirm our belief that transitioning Jamba to an asset light model
will allow us to enhance our growth initiatives while driving down
expenses, which positions us well for long-term growth.”
Earlier this month the Company announced its entry into an agreement for
the refranchising of 100 Company-owned stores to Vitaligent, LLC. The
Company expects that with this further accelerated program, the
Company’s refranchising initiative will generate between $55 - $75
million of cash proceeds in 2015 in the aggregate.
About Jamba, Inc.
Jamba, Inc. owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company 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, Energy Bowls™, hot oatmeal, breakfast wraps,
sandwiches, Artisan Flatbreads™, baked goods and snacks. As of December
30, 2014, there were 868 store locations globally. There were 263
Company-owned and operated stores and 543 franchise-operated stores in
the United States, and 62 franchise-operated international stores. Jamba
Juice Company expands the Jamba® brand by direct selling of consumer
packaged goods (“CPG”) and licensing its trademarks. CPG products for
at-home enjoyment are available online, through select retailers across
the nation and in Jamba® outlets in the United States. 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.
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