Jamba, Inc. Announces Refranchising Initiative Involving Up to 150 JAMBA JUICE® Company Stores
28 Mai 2009 - 2:45PM
Business Wire
Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) today
announced the launch of a refranchising initiative that is expected
to involve up to 150 Jamba Juice store locations primarily outside
of California. The Company expects many of the refranchising
transactions to also include a development agreement.
�I am pleased to announce this refranchising initiative which,
given the high level of interest in the Jamba brand, should
accelerate our growth and presence outside of our core California
markets,� stated James D. White, President and Chief Executive
Officer, Jamba, Inc. �Refranchising will also allow us to better
focus our operational resources to company owned stores in
California to improve efficiencies and performance."
The Company has engaged the Praetorian Group to spearhead this
refranchising initiative. The Praetorian Group has a successful
track-record with major refranchising programs. The Company expects
the refranchising program to be completed in a twelve to eighteen
month timeframe, depending on market and other conditions. The
Company anticipates transaction proceeds and cash flow from
operations will be used to pay down its existing debt and help fund
future growth.
"With a continued disciplined effort on expense reduction, a
commitment to a customer-first �operationally focused� service
culture across all Jamba Juice stores, building a retail food
capability across all day-parts, and enhancing our consumer
products licensing platform, our revitalization is well underway,�
continued Mr. White.
The Company is committed to strategically growing the Jamba
brand and refranchising is one component of a broader plan for
achieving that goal. The Company has already experienced
significant recent success with non-traditional store franchise
growth in venues such as airports and schools and expects to soon
leverage the skills, local restaurant knowledge and entrepreneurial
spirit of franchisees to accelerate its traditional store
development outside of California. The Company's current research
shows there are potential opportunities for at least 2,700 stores
in the United States.
About Jamba, Inc.
Jamba, Inc. (Nasdaq: JMBA) (Nasdaq: JMBAU) (Nasdaq: JMBAW) 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
healthy lifestyle 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.
About the Praetorian Group
The Praetorian Group are franchise transaction specialists and
have extensive experience structuring and negotiating business
transactions, valuation of business enterprises, divestures, equity
placement and commercial loan structuring. The firm has sold over
3,000 franchised units and has successfully completed
re-franchising programs for many well known QSR�s. For more
information about the Praetorian Group contact Gene Cerrotti, CEO,
Phone: 1-888-358-3325X226 or genec@praetoriangroup.net
(www.praetoriangroup.net).
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.
Jamba - Units (MM) (NASDAQ:JMBAU)
Historical Stock Chart
Von Okt 2024 bis Nov 2024
Jamba - Units (MM) (NASDAQ:JMBAU)
Historical Stock Chart
Von Nov 2023 bis Nov 2024