Jamba Inc. announced the sale of eight restaurants in California to Swirl Partners LLC, whose principals are David Wagonfeld and Scott Maltz. This sale reflects the company’s continuing progress under its strategic refranchising program and builds on the sale of 27 restaurants in 2009 to existing Jamba Juice franchise owners in Arizona, Oregon, and California.
“With consumer trends accelerating in the demand for healthier food options, Jamba, with our health and wellness oriented menu, represents a powerful and attractive option for brand ownership,” says James D. White, president and CEO, Jamba, Inc. “We are thrilled to have David and Scott join the franchise team. They both bring tremendous business experience to the table.”
“We are excited to become the newest members of the Jamba Juice franchise organization,” Wagonfeld says. “The company has undergone a significant transformation in the past year, especially with the launch of their new food offerings and their upcoming launch of hot beverages.”
“We see tremendous opportunity for growth with the Jamba brand,” Maltz says.
The overall refranchising initiative is expected to involve the refranchising of up to 150 company-owned restaurant locations, primarily outside of California, and with a goal to be completed by the close of 2010.
Jamba was assisted in the close of this transaction by the Praetorian Group, franchise transaction specialists.