Jamba is finalising an agreement with Nestlé to acquire the product formulation and intellectual property for the Jamba All-Natural Energy Drink.
The company plans to expand the distribution and retail outlets of Jamba All-Natural Energy Drinks.
The deal is expected to close by 20 June.
James White, chairman, president and CEO of Jamba, said: “A couple of significant retailers with national presence plan to carry the Jamba All-Natural Energy Drink this year and we plan to continue this growth.
“We’ve previously used only licensing agreements for our consumer packaged goods (CPG) products.
"As we enter into the new phase of our approach to CPG, we’ll explore joint venture, co-pack agreements and other sales and distribution arrangements to provide us with increased control of our CPG products and enhanced returns.”