Jamba Juice, (NASDAQ: JMBA), a highly recognized, healthy active lifestyle brand, announced today the signing of a purchase agreement for 15 stores in Denver, Colorado with existing multi-unit franchise operators, Scott Maltz, David Wagonfeld, and Larry Kaufman, who currently operate 15 other Jamba Juice outlets in the Central California region. This recent transaction is expected to close by the end of the fourth quarter 2010.
Franchise operators, Maltz, Wagonfeld, and Kaufman joined the Jamba Juice franchise in February 2010 with the purchase of eight stores. They subsequently invested in the purchase of seven additional stores. With the close of this transaction, they will own a total of 30 Jamba Juice locations in central California and Colorado. They are exceptional operators who, in a short period of time, have had tremendous success in owning and operating Jamba Juice restaurants.
“Jamba Juice has a very strong health and wellness platform and continues to innovate with new better-for-you food and beverage offerings that truly position them as a leading healthy, active lifestyle brand,” commented Mr. Maltz. “It is a testament to our belief in the Jamba Brand that we have chosen to invest in our third market with Jamba Juice.”
Maltz, Wagonfeld, and Kaufman, in conjunction with this agreement, have committed to further expansion of the Jamba Juice Brand by developing four additional stores in Colorado. The planned development activity will contribute to Jamba’s plans to accelerate franchise store growth and expand market share.
“Our refranchising initiative is nearing completion and I am pleased with the success we have had with this program,” stated James D. White, chairman, president, and CEO, Jamba Juice Company. “Especially in attracting highly qualified and very experienced operators, many of whom, like Scott, David, and Larry, have subsequently chosen to further their investment by purchasing additional stores.”
This recent transaction represents the latest step in Jamba’s program to increase overall store growth, particularly franchise store growth. Jamba is currently awarding franchise opportunities in select markets across the country. For more information about joining the Jamba Juice team visit www.jambafranchise.com.