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Jamba Juice (Nasdaq: JMBA): Shares Up Slightly after Announcing New Stores

|Includes: Jamba, Inc. (JMBA)

Jamba, Inc, (Nasdaq:JMBA) shares were up 4 cents at $1.97 per share on volume of around 500,000 shares after announcing the sale of 25 restaurants in Washington to existing franchisee, Prudence Swann, principal of PB Swann, LLC. The agreement includes a commitment to further expand the Jamba Juice brand by developing two additional stores in the Seattle market.

“With the choices in restaurant franchises available for investment, we are thrilled that PB Swann, one of our existing franchise operators, has chosen to expand her relationship with us. Prudence is a first class operator and her investment speaks to her belief in the strength and growth potential of the Jamba brand,” said Thibault de Chatellus, Senior Vice President, Global Franchise and Development, Jamba Juice Company, in a press release.

"The completion of the sale of 81 restaurants is a huge accomplishment for our Company. Our team has been working hard on this initiative and it’s clearly paying off. We fully expect to have the refranchising initiative completed by the close of 2010," said James D. White, Chairman, President and CEO, Jamba, Inc.

Jamba Juice expects to add up to 50 new domestic franchise locations in 2010. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 287 currently operating franchise stores.

JMBA is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads, and a variety of baked goods and snacks.

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