Jamba Juice has signed a purchasing agreement for 41 stores, its largest refranchising transaction since the program's inception in 2009.
The stores are slated to open in the Midwest, primarily in the Chicago and Minneapolis markets.
The agreement was signed with JJ Maa Inc. and JJ Mata Inc., whose principals are Zeena Patel, Anand Patel, Amrit Patel and Mafatlal Patel.
The Patels have an extensive history of launching and leading multiple companies in a variety of industries throughout the Chicago area. With this agreement, they have committed to develop at least 20 Jamba Juice units throughout the next six years.
The transaction is expected to close in November.
"The team has done outstanding work to substantially complete the refranchising program and this purchase agreement, the largest to date, is a significant achievement," said 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."
Jamba Juice currently has about 750 locations, including more than 430 company-owned stores, and more than 310 franchisees.
