Focus Brands is paying $13 in cash for each share of Jamba Juice.
Focus Brands Inc., which owns franchises such as Auntie Anne’s, Schlotzsky’s and Cinnabon, announced on Thursday that it will acquire Jamba Juice in a $200 million deal.
"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,” Focus Brands CEO Steve DeSutter said in the press release. “We are excited to welcome Jamba Juice with such an iconic heritage into our family of well-known and highly loved ’fan favorite’ brands.”
Jamba Juice has more than 800 locations, and Focus Brands is the franchisor and operator of more than 5,000 eateries. Both companies operate locations worldwide.
“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,” Jamba, Inc. CEO Dave Pace said in the press release announcing the merger. “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.”
Read the full press release.