EMERYVILLE, Calif. — Jamba Inc. has announced sale of nine restaurants as part of its ongoing strategic refranchising program that was announced in May 28. The overall refranchising initiative is expected to involve about 150 company-owned restaurant locations primarily outside of California.
The company completed the sale of nine restaurants in Oregon to The Cinnamon Bums Inc., an existing Jamba Juice franchisee currently operating nine other Jamba Juice restaurants in the Northwest region. With the purchase of the additional restaurant outlets in Oregon, TCBI principals John Whittaker and Steve Foltz now own 18 Jamba Juice restaurant locations and have committed to building three new Jamba Juice restaurants in the Oregon market.
The refranchising transaction builds on the sale of 10 Jamba Juice restaurants in Arizona to another existing franchisee in March 2009.
"The sale of the Arizona restaurants to an existing franchisee in March and now these restaurants in Oregon to current franchisees John and Steve, is outstanding news," said James D. White, president and CEO of Jamba Inc. "It is a testament to the strength of the Jamba Juice brand that our existing franchise operators are seeking expansion opportunities with us when they have so many other alternatives in which to invest their capital."
