JAMBA INC : Jamba Juice and Venus Williams Sign Letter of Intent to Open Jamba Stores in D.C. Market
04/20/2011| 04:15pm US/Eastern
Jamba Juice Company (NASDAQ: JMBA) and Venus Williams
announced today the signing of a non-binding letter of intent to form a
joint venture to develop up to five Jamba Juice stores in the Washington
D.C./Maryland marketplace over the next two years. The venture will also
provide a platform for a long-term relationship, which would provide Ms.
Williams' organization with the certain exclusive rights to franchise
the Jamba Juice brand throughout the Washington D.C./Maryland
marketplace. The terms of the arrangement are expected to be finalized
within the next 60 days and the first store to open later this summer.
The two organizations' goal in establishing this partnership is to
leverage the strength of their respective brands to promote health and
wellness in the D.C. area and to work together to help promote lifestyle
changes to fight childhood obesity. In addition, the expansion of Jamba
stores in this marketplace will help promote economic development and
provide job opportunities for local residents.
"I have been a long-time fan of Jamba Juice and its mission to help
inspire and simplify healthy living," said Venus Williams, tennis star
and entrepreneur. "Regardless of the venue -- whether I am on the tennis
court or on an interior design project - keeping fit and eating healthy
are critical to ensuring I maintain peak performance. Jamba offers a
fantastic line-up of tasty, better-for-you products that I can feel good
about eating. I am excited to be a part of Jamba and, through that
partnership, to be bringing a healthy lifestyle brand to the D.C. METRO
area that can offer others an easy way to maintain their focus on
staying active and eating right."
"Venus is a legend in the sports world, an entrepreneur, and a role
model who serves as an inspiration for anyone seeking to achieve new
heights in their personal or professional lives. In her we found a
partner as committed as we are to enabling people to lead healthier,
more active lifestyles and who wants to help people find simple
solutions to eating better," stated James D. White, chairman, president
and CEO, Jamba Juice Company. "Regardless of her endeavor, Venus goes
after everything with gusto and a motivation to win. And she is
committed to helping others succeed too. Her support for a brand like
Jamba that brings great tasting, better-for-you, convenience to eating
healthier is a win for everyone."
Jamba sells a variety of food and beverage products including whole
fruit smoothies, fresh squeezed juices, hot beverages, wraps, salads,
sandwiches, frozen yogurt, and a variety of baked goods.
White noted, "This partnership is a perfect match between two brands
that are both passionate about creating viable and healthy communities
while helping people achieve their lifestyle goals of being more active
and eating better."
Jamba Juice Company plans to develop 50 to 70 traditional and
non-traditional store locations in 2011 and is currently awarding
franchise opportunities to passionate individuals who desire to be a
part of a popular and sought-after healthy, active lifestyle brand. For
more information about joining the Jamba Juice team visit http://www.jambafranchise.com.
About Jamba Juice Company
Jamba, Inc. (NASDAQ: JMBA) is a holding company which through its
wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA
JUICE® stores. Founded in 1990, Jamba Juice is a leading destination for
specialty better-for-you beverage and food offerings, including great
tasting whole fruit smoothies, fresh squeezed juices, hot beverages
including organic coffee and tea, hot oatmeal made with organic steel
cut oats, wraps, salads, sandwiches, California Flatbreads?, premium
frozen yogurt, and a variety of baked goods and snacks. Jamba-branded
products for at-home enjoyment are also available through select
retailers across the Nation. As of April 18, 2011, Jamba Juice had 744
locations consisting of 308 company-owned and operated stores and 436
franchise stores. For more information about Jamba Juice visit our
website at www.jambajuice.com
or call 1-866-4R-FRUIT (473-7848).
About Venus Williams
Venus Williams became a professional tennis player at age 14, beating
the #50 player in the world in her first match. The first
African-American to reach the number one ranking as a professional in
either the men's or women's game, Williams continues to be ranked at the
very top of the professional rankings. She graduated cum laude
with a degree in fashion design from the Art Institute of Ft.
Lauderdale. Forbes magazine recently named Ms. Williams on many lists
including: The World's Most Powerful Women and the Top 100 Most Powerful
Celebrities. In addition to her professional tennis victories, she has a
fashion line, EleVen by Venus Williams, and an interior design firm, V
Starr Interiors. A multiple Grand Slam singles champion and three-time
Olympic Gold Medalist, Williams resides in Palm Beach Gardens, Florida.
Venus Williams' website is http://www.venuswilliams.com.
This press release (including information incorporated or deemed
incorporated by reference herein) contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
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Forward-looking statements are only predictions and are subject to
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Therefore actual results may differ materially and adversely from those
expressed in any forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to, those
discussed under the section entitled "Risk Factors" in our reports filed
with the SEC. Many of such factors relate to events and circumstances
that are beyond our control. You should not place undue reliance on
forward-looking statements. Neither company assumes any obligation to
update the information contained in this press release.
For Jamba Juice Company
Janice Duis, 510-596-0286
Molly Logan, 305-461-9270
© Business Wire 2011