Done deal as Jamba Inc. goes private
Focus Brands is officially juiced up.
The food service and restaurant company announced it has completed its purchase of Jamba, the parent company of Jamba Juice. Jamba agreed in August to be acquired by Focus Brands in a deal put at $200 million. Jamba has more than 800 locations worldwide.
With the completion of the deal, Jamba is now a wholly-owned subsidiary of FBI, and ceased trading prior to the open of the market on Sept. 13. It will no longer be listed on NASDAQ.
“We are excited to officially welcome Jamba, a leader in the smoothie and juice category with strong franchise operators and an iconic heritage, into our family of well-known and highly loved ‘fan favorite’ brands,” said Steve DeSutter, CEO of Focus Brands. “We look forward to what lies ahead for this great brand, especially the continued growth that will benefit Jamba guests, franchisees, and employees.”
Owned by private equity firm Roark Capital Group, Atlanta-based Focus is a leading developer of global multichannel foodservice brands, including Carvel, Cinnabon, Schlotzsky’s, Moe’s Southwest Grill, Auntie Anne’s, McAlister’s Deli and Jamba Juice, as well as Seattle’s Best Coffee. With the Jamba acquisition, Focus, through its affiliate brands, is the franchisor and operator of more than 6,000 locations throughout the U.S. and in over 50 foreign countries.
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