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Article: Jamba Juice Announces Further Progress on Refranchising Initiative with Sale of Eight California Locations.
- Article from:
- Food Weekly News
- Article date:
- November 12, 2009
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Jamba, Inc. (Nasdaq: JMBA) announced the sale of eight restaurants in California to Four Life Foods, LLC, a company owned primarily by one of the four original co-founders of Jamba Juice, Linda Olds, and her husband Jeff Olds.
With the acquisition of these restaurants, the Olds now own and operate nine California Jamba Juice locations. Participating in the acquisition through a minority ownership position in Four Life Foods is Brett Thomas, a former District Manager of the Company. This sale reflects the Company's continuing progress under its strategic refranchising program that was announced May 28, 2009.
For Jeff and Linda this represents a return to ...