EMERYVILLE, Calif.--(BUSINESS WIRE)--Jamba Juice Company (NASDAQ:JMBA), a leading healthy, active lifestyle brand announced today that the Company has entered into a master development agreement with King of Juices Company LTD to develop 30 Jamba Juice® stores in Thailand over the next ten years. The first Jamba Juice store in Thailand is expected to open in late 2015.
King of Juices Company LTD (“King of Juices”) is a new entity led by Ms. Ausanee Mahagitsiri, a seasoned executive who successfully operates other food & beverage concepts in Thailand, and is a Director of several other companies. "We are pleased to be partnering with King of Juices in Thailand, as we continue to extend Jamba’s global reach, and to provide solutions for health, nutrition and an active lifestyle to consumers across the globe,” said Tom Madsen, Senior Vice President & General Manager, Global Growth, Jamba Juice Company. “In King of Juices, we have found a fantastic partner for Thailand with a strong passion for Jamba Juice, a deep understanding of the Thai consumer, and an outstanding track record for developing US franchise brands in Thailand.”
“We are very excited about the opportunity to bring Jamba Juice to Thailand,” said James D. White, chairman, president and CEO, Jamba Juice Company. “Thailand is one of the most dynamic retail food and drink markets in the Asia-Pacific region with high spending on food and beverages and an increasing demand for high quality fruit drinks. We will leverage the success of Jamba Juice in Korea, Philippines, and Taiwan, and are confident that Thai consumers who have a strong affinity for leading western brands will embrace Jamba’s great tasting and nutritious food and beverages.”
This agreement represents the latest step in Jamba's international franchise store growth. The Company believes the potential for Jamba® stores internationally exceeds 1,500 units, and this agreement brings the current pipeline commitment to 545 stores in South Korea, the Philippines, Mexico, UAE, Saudi Arabia, Bahrain, Oman, Kuwait, Qatar, Taiwan and Thailand.
Jamba Juice is currently awarding franchise opportunities in other select markets around the globe. For more information, please visit www.jambafranchise.com.
About Jamba Juice Company
Founded in 1990, Jamba, Inc. 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, hot teas, and a variety of food items including hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods, and snacks. As of March 31, 2015, there were 805 Jamba® stores system-wide in the United States, of which 546 are franchise-operated stores, and 259 are Company-owned. Jamba is a proud sponsor of "Team Up for a Healthy America" in the fight against childhood obesity and encourages fans to join the Team Up community of celebrities, athletes, and other leaders committed to getting kids active and involved at www.myhealthpledge.com. 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).
This press release (including information incorporated or deemed incorporated by reference herein) contains “forward-looking statements” within the meaning of the Private Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projects as well as the current beliefs and assumptions of our management. Words such as “outlook”, “believes”, “expects”, “appears”, “may”, “will”, “should”, “anticipates”, or the negative thereof or comparable terminology, are intended to identify such forward looking statements. Any statement that is not a historical fact, including estimates, projections, future trends and the outcome of events that have not yet occurred, is a forward-looking statement. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. 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. The Company does not assume any obligation to update the information contained in this press release.