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Jamba, Inc.
JMBA, a leading healthy, active lifestyle brand,
announced today the Company's plans to further accelerate their refranchising
initiative with a goal of becoming a 90% plus franchise-to-company-owned model
by the end of fiscal year 2015.
"We are pleased to announce our plans for the further acceleration of our
refranchise initiative which would result in the Company being a 90%-plus
franchise-to-company-owned model by the end of this year," said James D.
White, chairman, president and CEO of Jamba, Inc. "The initial phase of our
refranchising initiative has proceeded quickly and efficiently and generated a
tremendous amount of interest, giving us a high level of confidence that our
goal of 90%-plus is achievable. We reaffirm our belief that transitioning
Jamba to an asset light model will allow us to enhance our growth initiatives
while driving down expenses, which positions us well for long-term growth."
Earlier this month the Company announced its entry into an agreement for the
refranchising of 100 Company-owned stores to Vitaligent, LLC. The Company
expects that with this further accelerated program, the Company's
refranchising initiative will generate between $55 - $75 million of cash
proceeds in 2015 in the aggregate.
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