Jamba Juice Announces Further Progress on Refranchising Initiative with Sale of Eight California Locations

October 29, 2009 1:49 PM EDT

Former Co-Founder and Existing Franchisee Purchase Additional Restaurants

EMERYVILLE, Calif.--(BUSINESS WIRE)-- Jamba, Inc. (Nasdaq: JMBA) announced today the sale of eight restaurants in California to Four Life Foods, LLC, a company owned primarily by one of the four original co-founders of Jamba Juice, Linda Olds, and her husband Jeff Olds.

With the acquisition of these restaurants, the Olds now own and operate nine California Jamba Juice locations. Participating in the acquisition through a minority ownership position in Four Life Foods is Brett Thomas, a former District Manager of the Company. This sale reflects the Company's continuing progress under its strategic refranchising program that was announced May 28, 2009.

For Jeff and Linda this represents a return to their Juice Club roots in San Luis Obispo. One of the stores they will be operating is store number one - the original Juice Club store (now a Jamba Juice location) where many customers may have first experienced a classic Jamba smoothie like Strawberries Wild(R) or Razzmatazz(R).

"We cannot express the excitement and pride we feel to be involved with our community where the Jamba journey began twenty years ago," stated Linda. "Jeff and I have always had a passion for the brand and we feel it is the perfect time to further our investment with the company."

"Linda was instrumental in building Jamba Juice into what it is today and we look forward to further leveraging her passion and experience to grow the brand," said Thibault de Chatellus, Senior Vice President of Global Franchise and Development, Jamba Juice. "The fact that Linda and Jeff are expanding their ownership with us is a testament to their belief in our strategic growth plans and the future of the Company."

This refranchising transaction builds on the sale of 19 restaurants earlier this year to existing Jamba Juice franchise owners in Arizona and Oregon.

"The purchase of these stores by Linda, Jeff, and Brett is outstanding news," commented James D. White, President and Chief Executive Officer, Jamba Juice. "I am thrilled about the progress we are making against our refranchising initiative and about engaging one of our most passionate original co-founders in growing with us."

The overall refranchising initiative is expected to involve the refranchising of about 150 company-owned restaurant locations, primarily outside of California, throughout 2009 and 2010.

To learn more about franchise opportunities contact Jamba at http://www.jambafranchise.com/. For information on the Company's refranchising initiative, contact the Praetorian Group at 1-888-358-3325 or www.praetoriangroup.net.

About Jamba, Inc.

Jamba, Inc. (Nasdaq: JMBA) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE(R) stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads(TM), and a variety of baked goods and snacks. As of October 6, 2009, Jamba Juice had 742 locations consisting of 488 company-owned and operated stores and 254 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.

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.

    Source: Jamba, Inc.

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