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Jamba Juice signs major refranchising agreement for expansion in two US markets

Jamba Juice will open 41 new stores in its largest ever refranchising program.

Jamba Juice has signed a purchase agreement with J J Maa and J J Mata to develop 41 stores in the mid-West region predominantly in the Chicago and Minneapolis markets.

The company said that this is the largest refranchising transaction it has entered into since it started the refranchising program in early 2009.

The principles of these franchisees are Zeena Patel, Anand Patel, Amrit Patel, and Mafatlal Patel. The company said that Patel's are well-established members of the Chicago community, and have good experience in launching and leading multiple companies in a variety of industries including specialty retail grocery, quick serve and traditional restaurants, ethnic and specialty food import and manufacturing.

In concert with this deal, the Patel's have committed to further expand the Jamba Juice brand by developing, at least, 20 additional Jamba Juice stores during the next six years. This development effort will expand Jamba's brand presence in the Midwest market. The transaction is anticipated to close in November 2010.

Jamba Juice Company chairman, president and CEO D White said that the team has done outstanding work to substantially complete the refranchising program and this purchase agreement, the largest to date with 41 stores, is a significant achievement.

Jamba is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises Jamba Juice stores. Jamba Juice is a restaurant retailer of food and beverage offerings, including 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 20 April 2010, Jamba Juice had 745 locations consisting of 458 company-owned and operated stores and 287 franchise stores.