Jamba Juice Forges Ahead Refranchising Program, Sells 25 More Restaurants
Jamba, a restaurant retailer of food and beverages offerings, has sold 25 restaurants in Washington to Prudence Swann, principal of PB Swann and existing franchisee.
The deal entails a commitment to further expand the Jamba Juice brand by developing two more stores in the Seattle.
Jamba Juice expects to add up to 50 new domestic franchise locations in 2010. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 287 currently operating franchise stores.
Thibault de Chatellus, senior vice president, Global Franchise and Development, Jamba Juice Company, said: “With the choices in restaurant franchises available for investment, we are thrilled that PB Swann, one of our existing franchise operators, has chosen to expand her relationship with us.
Prudence is a first class operator and her investment speaks to her belief in the strength and growth potential of the Jamba brand.”
James White, chairman, president and CEO of Jamba, said: The completion of the sale of 81 restaurants is a huge accomplishment for our Company. We fully expect to have the refranchising initiative completed by the close of 2010.
Jamba is a holding company and operates wholly-owned subsidiary, Jamba Juice Company. Jamba Juice is a restaurant retailer of better-for-you food and beverage offerings. As of April 20, 2010, Jamba Juice had 745 locations consisting of 458 company-owned and operated stores and 287 franchise stores.
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