Jamba CEO White promised, and delivered……again…
Jamba Juice, (NASDAQ: JMBA), a highly recognized healthy, active lifestyle brand, announced today the signing of a purchase agreement for 41 stores in the mid-West region predominantly in the Chicago and Minneapolis markets with J J Maa, Inc. and J J Mata Inc, whose principals are Zeena Patel, Anand Patel, Amrit Patel, and Mafatlal Patel. This is the largest refranchising transaction Jamba has entered into since announcing the refranchising program in early 2009.
The Patel’s are well-established members of the Chicago community and are highly-regarded business owners and operators. They have a tremendous depth of experience in successfully launching and leading multiple companies in a variety of industries including specialty retail grocery, quick serve and traditional restaurants, ethnic and specialty food import and manufacturing. Their most recent business undertaking is in specialty and homeopathic health and wellness services.
In conjunction with this agreement, the Patel’s have committed to further expand the Jamba Juice brand by developing, at least, 20 additional Jamba Juice stores over the next six years. This development activity will significantly expand Jamba’s brand presence in the Midwest market, providing even more customers with access to Jamba’s portfolio of great tasting, better-for-you, on-the-go, meal options. The transaction is expected to close in November 2010.
“The team has done outstanding work to substantially complete the refranchising program and this purchase agreement, the largest to date with 41 stores, is a significant achievement,” stated James D. White, chairman, president and CEO, Jamba Juice Company. “I am exceptionally impressed with the Patel family and their outstanding track record of success as business owners and entrepreneurs. Their investment in the Jamba brand speaks strongly to their belief in our business proposition and we look forward to working together to grow this market.”
“We love the fact that Jamba Juice is focused on health and wellness and creating differentiated products that are healthier-for-you, convenient, and great tasting,” stated Anand Patel, principal of J J Maa, Inc. and J J Mata, Inc. “We are passionate about leading healthy, active lifestyles ourselves and given Jamba’s twenty year history of inspiring and simplifying healthy living it’s an easy brand to endorse and promote.”
This 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.
3 replies on “$$ Jamba Announces Largest Franchising Deal To Date”
[…] This post was mentioned on Twitter by Todd Sullivan, Mark G. Mark G said: RT @ToddSullivan $ $Jamba Announces Largest Franchising Deal To Date http://bit.ly/dbyPqQ […]
$$ Jamba Announces Largest Franchising Deal To Date…
I found your entry interesting do I’ve added a Trackback to it on my weblog :)…
[…] News Position Update Evaluation of Jamba, Inc. … Jamba, Inc. to Announce Second Quarter 2010 Financial Results on August 17, 2010 Jamba Juice sells 25 Washington stores Jumba Announced the Sale of 25 Restaurants to Franchisee Midday WMM Micro and Nano Cap Movers (NASDAQ: ADGY, CCRB, CCJ, JMBA, NYNY) … canada goose coats montreal vibram five fingers ch new tory burch tory burch purses vibram fivefinger tory burch reva clutch torry burch tory burch code vibram barefoot shoes vibram shoe tory burch pants Jamba Juice to sell 41 Midwest stores Jamba Juice Teams Up with the National Gardening Association to Offer … $$ Jamba Announces Largest Franchising Deal To Date […]