Jamba, Inc. Announces Strategic Exit from JambaGo Platform
October 05 2016 - 5:00PM
Business Wire
Company Committed to Profitable Growth through
Focus on Retail Store Performance and Development
Jamba, Inc. (NASDAQ:JMBA), a leading lifestyle brand with a
passion for making healthful living fun, today announced plans to
exit the Company’s automated JambaGo platform by the end of fiscal
year 2016.
The decision to exit JambaGo comes during a period of transition
in which the Company has onboarded a new leadership team focused on
re-evaluating all strategic priorities. The Jamba team has
committed to strengthening its core retail business, improving
franchise profitability, accelerating ongoing global development
and updating the Jamba Juice brand position. After a detailed
review, the Company determined that the JambaGo platform does not
align with these objectives and is not a viable option through
which to drive long-term profitability and shareholder value.
“Following a thorough review of the platform’s growth potential,
resources required to drive meaningful sales, alignment with the
brand’s iconic positioning, and JambaGo’s ability to maximize value
for shareholders, we decided to exit the JambaGo venture,” said
Dave Pace, Chief Executive Officer. “I’m encouraged by the progress
our newly formed leadership team continues to make and believe this
strategic exit will allow us to focus on our retail business as
well as our previously stated, five core strategies.”
JambaGo is a smoothie system that can be formatted as both a
self-serve unit for placement in non-traditional sites like
convenience stores, hotels or colleges, or as a behind-the-counter
format for use in K-12 schools and cafeterias.
As of June 28, 2016, the JambaGO® business consists of
approximately 2,000 licensed units located across the United
States. The Company will provide additional context on the exit of
this platform on the third quarter earnings call in November.
About Jamba, Inc.
Jamba, Inc., owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company
is a leading restaurant retailer of better-for-you, specialty
beverage and food offerings, which include great tasting, whole
fruit smoothies, fresh-squeezed juices and juice blends, and a
variety of food items including, hot oatmeal, breakfast wraps,
sandwiches, Artisan Flatbreads™, Energy Bowls™, baked goods and
snacks. As of June 28, 2016, there were 885 store locations
globally. There were 68 Company-owned and operated stores and 751
Franchise-operated stores in the United States, and 66
Franchise-operated international stores. Jamba Juice Company
expanded the Jamba® brand by direct selling of consumer packaged
goods (“CPG”) and licensing its trademarks. CPG products for
at-home enjoyment are also available online, through select
retailers across the nation and in Jamba® outlets in the United
States.
Fans of Jamba Juice® can find out more about Jamba Juice's
locations as well as specific offerings and promotions by visiting
the Jamba Juice website at www.jambajuice.com or by
contacting Jamba’s Guest Services team at 1-866-4R-FRUIT
(473-7848).
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version on businesswire.com: http://www.businesswire.com/news/home/20161005006026/en/
ICR for Jamba, Inc.Dara Dierks,
203-682-8200dara.dierks@icrinc.comorJamba JuiceRachel
Phillips-LutherRphillips-luther@jambajuice.com
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