This is the largest refranchising transaction Jamba has entered into since announcing the refranchising programme in early 2009.
The Patels are established members of the Chicago community and are highly regarded business owners and operators. They have experience in successfully launching and leading multiple companies in a variety of industries, including specialty retail grocery, quick-serve and traditional restaurants, ethnic and specialty food import and manufacturing. Their most recent business undertaking is in specialty and homeopathic health and wellness services.
In conjunction with this agreement, the Patel’s have committed to further expand the Jamba Juice brand by developing at least 20 additional Jamba Juice stores over the next six years. This development activity will significantly expand Jamba’s brand presence in the US midwest market.
The transaction is expected to close in November 2010.
Source: Jamba
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