Auntie Anne’s parent to acquire Jamba Juice for $200mn
Focus Brands Inc. has agreed to acquire smoothie maker Jamba Inc. for approximately $200mn.
Through the deal, Focus Brands will add Jamba Juice to its portfolio of food-service brands, which includes Auntie Anne’s, Cinnabon, Carvel, Schlotszky’s, Moe’s Southwest Grill and McAlister’s Deli.
The Atlanta-based firm will acquire Jamba Inc. for $12 per share in cash.
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“Benefiting from an extremely loyal customer base and strong franchise operators, Jamba Juice is one of the category leaders in the fast-growing smoothie and juice category,” said Steve DeSutter, chief executive officer of Focus Brands.
“We are excited to welcome Jamba Juice with such an iconic heritage into our family of well-known and highly loved ‘fan favourite’ brands.”
Following the transaction, Jamba Juice will continue to operate as a separate privately held brand, the company said.
“We are delighted to have reached this agreement with Focus Brands and are confident that it will result in a positive outcome for our guests, our franchisees and our employees,” added Dave Pace, CEO of Jamba, Inc.
“Over the last few years, we have worked hard to strengthen our foundation and reposition this iconic brand for the future. Partnering with Focus Brands will allow us to build on this work and further accelerate the Company’s growth.”