Jamba, Inc. (JMBA) Announces Refranchising Initiative Involving Up to 150 JAMBA JUICE Company Stores
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Jamba, Inc. (NASDAQ: JMBA) 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.
Jamba has engaged the Praetorian Group to spearhead this refranchising initiative. The Praetorian Group has a successful track-record with major refranchising programs. Jamba 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.
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