July 2, 2009 (FinancialWire) — Jamba, Inc. (NASDAQ: JMBA) (Current Market Cap: $67.27 Mil.) has sold nine restaurants as part of an ongoing refranchising program 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.
Jamba executive Thibault de Chatellus said, "The sale of these restaurants will further consolidate our presence in the market and position our brand for greater growth."
The refranchising transaction builds on the sale of ten Jamba Juice restaurants in Arizona to another existing franchisee in March 2009.
Emeryville, California-based Jamba owns and franchises Jamba Juice stores. As of April 21, 2009, the company had 732 locations consisting of 499 company owned and operated stores and 233 franchise stores.
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