Focus Brands Inc. (FBI) has struck a deal to buy Jamba Inc. for $13 per share, in a transaction that's valued at $200 million.
"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, CEO of Focus Brands Inc. The company operates 800+ locations.
The tender offer is subject to customary conditions, including antitrust clearance and the tender of a majority of the outstanding shares of Jamba common stock.
Following the close of the transaction, Jamba will be a privately-held subsidiary of FBI and will continue to be operated as an independent brand.
Dave Pace, CEO of Jamba, siad,. “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.
Atlanta-based Focus Brands Inc. is a developer of global multi-channel foodservice brands: Carvel, Cinnabon, Schlotzsky’s, Moe’s Southwest Grill, Auntie Anne’s and McAlister’s Deli, as well as Seattle’s Best Coffee on certain military bases and in certain international markets.