US chain Jamba Juice has been bought for US$200 million by Focus Brands.
Already, there is speculation that the Jamba Juice sale may lead to the brand being expanded overseas. The reason: Focus is owned by private equity firm Roark Capital and the parent of some high-profile food retail concepts.
Focus already operates more than 5000 eateries in the US, Puerto Rico and 50 other countries under brands including Carvel, Cinnabon, Schlotzsky’s, Moe’s Southwest Grill, Auntie Anne’s, McAlister’s Deli and Seattle’s Best Coffee. So it has established partnerships in many international markets, including in Asia.
“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 Juice CEO Dave Pace said in a statement. “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.”
The deal is expected to close in the third quarter of 2018.
Once Jamba Juice is acquired, it will operate as a privately held subsidiary of Focus and an independent brand.
Jamba Juice was founded in California in 1990 and has expanded to more than 800 retail stores but only a small number outside the US.