Jamba Juice Company (NASDAQ: JMBA), a widely recognized healthy, active lifestyle brand announced today that they had entered into a non-binding letter of intent with International Franchise Inc., a world leader in the franchising segment and a significant global player in the frozen dessert category, for the franchise development of up to 125 locations across Canada over the next 10 years.
“We are excited about the potential to enter our second international market in Canada through the formation of a franchise relationship with International Franchise Inc.,” commented James D. White, chairman, president, and CEO, Jamba Juice Company. “The successful completion of these discussions would represent another critical step in our strategy of becoming a global healthy, active lifestyle brand.”
The non-binding letter of intent aims to provide a structure for the establishment of a long-term relationship, which would give International Franchise Inc. the generally exclusive rights to the franchising of the Jamba Juice brand throughout the Canadian marketplace.
Jamba, Inc. (NASDAQ:JMBA) 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 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™, and a variety of baked goods and snacks. As of July 13, 2010, Jamba Juice had 743 locations consisting of 432 company-owned and operated stores and 311 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 (473-7848).