- Jamba (NASDAQ:JMBA) has struck a deal to refranchise 100 stores in the San Francisco, San Diego, and Sacramento markets. The stores will be owned by Vitaligent, LLC, which is paying Jamba $36M to take ownership of them.
- The smoothie chain calls the move "a significant step toward our achieving the Companys commitment to an asset light model and positions us well to reach our goal of generating $30 - $40 million of cumulative cash proceeds from refranchising in 2015."
- It previously forecast 114 stores would be refranchised by mid-2015, thus bringing the franchise/company-owned store mix to 80/20. Discussions are said to be underway to sell another 14 California stores.