Jamba, Inc., today announced continued progress in their brand expansion plans, as its wholly owned subsidiary, Jamba Juice Company, entered into a license agreement with The Inventure Group to develop a line of a blend-and-serve, frozen fruit smoothie kits for retail grocery distribution. This license agreement builds upon the existing licensing agreements signed with Nestle in 2007 and Think Wow Toys and Oregon Ice Cream in 2009, to create health and wellness-oriented, Jamba-branded retail products.
"The make-at-home smoothie is an emerging category and represents perhaps the most literal extension of the Jamba brand to date," said Susan Shields, Vice President, Consumer Products and Licensing, Jamba Juice Company. "We want to serve the healthy habits of our consumers wherever they live and shop, and as we looked to extend the brand into this new area of opportunity, we needed a partner that understood the extraordinary quality that has made Jamba a leading name in smoothies. We're certain that teaming with The Inventure Group will provide our customers with the same great tasting and healthy-fun Jamba smoothie experience at home that they've come to expect in our stores."
The blend-and-serve smoothie kits are expected to launch in the U.S. during the first quarter of 2010 and will include a variety of fresh-frozen, whole fruit pieces, including raspberries and blueberries, from Washington-based Rader Farms, an Inventure Group company. The products will feature Jamba's signature recipes, and they will be the first smoothie kits in the marketplace to include vitamin and mineral boosts.
"We are delighted to partner with Jamba Juice in the development of better-for-you, frozen smoothie kits," said Steve Sklar, Senior Vice President Marketing, The Inventure Group. "Jamba has a powerful brand with broad consumer appeal and this relationship offers us both an opportunity to extend our respective core competencies in the development of a unique product line. We are excited to be a part of this endeavor."
The Inventure Group is a leading supplier of high quality frozen fruit to some of the nation's largest grocery retailers and maker and marketer of branded and private label snack foods as well as frozen fruit under the Rader Farms brand. They have deep expertise in the development of specialty, better-for-you, food and beverage offerings and a proven track record of combining flavor, technology, and innovation together to create unique, delicious tasting, good-for-you products that appeal to the active lifestyle consumer.
"This is a tremendous opportunity for our brand and fits the restaurant branded experience that The Inventure Group has achieved with other category leaders like T.G.I. Friday's(R) and BURGER KING(TM)," added Terry McDaniel, President and Chief Executive Officer, The Inventure Group. "Brad Rader and the team at Rader Farms put quality ahead of everything they do and this is a great story of two premium, healthy-minded brands coming together to produce what I expect will be a great line of at-home smoothies."
Since announcing their intent to build a licensing growth platform as part of the 2009 BLEND plan, the blueprint for the Company's strategic priorities, Jamba has made significant progress in developing licensing alliances to launch new products. The Company's frozen novelty products, developed through its relationship with Oregon Ice Cream, and the Jamba-branded toy blender, developed through its relationship with Think Wow Toys, are expected to hit retail shelves in late 2009.
"I am exceptionally pleased at the progress we are making against our goal to grow the Jamba brand through licensing," stated James D. White, President and Chief Executive Officer, Jamba, Inc. "The alliance with The Inventure Group allows us to extend the Jamba brand into additional consumer package goods categories and further maximize our reach to consumers as well as our revenue opportunity."
In addition to the already signed agreements with Nestle, Think Wow Toys, Oregon Ice Cream, and The Inventure Group, the Company is exploring a number of other opportunities to extend the Jamba brand.
About Jamba, Inc.
Jamba, Inc. is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises Jamba Juice(R) 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, teas, hot oatmeal made with organic, steel cut oats, and baked goods. As of July 14, 2009, Jamba Juice had 735 locations consisting of 490 company-owned and operated stores and 245 franchise stores. For the nearest location or a complete menu, visit the Jamba Juice website at www.jambajuice.com or call 1-866-4R-FRUIT.
About The Inventure Group, Inc.
With manufacturing facilities in Arizona, Indiana and Washington, The Inventure Group (SNAK 2.94, +0.04, +1.38%) is a marketer and manufacturer of Intensely Different(TM) specialty brands in indulgent and better-for-you food categories under a variety of Company owned or licensed brand names, including T.G.I. Friday's(R), BURGER KING(TM), Rader Farms(R), Boulder Canyon(TM) Natural Foods, Poore Brothers(R), Tato Skins(R) and Bob's Texas Style(R). For further information about The Inventure Group please visit http://www.inventuregroup.net.
This press release (including information incorporated or deemed incorporated by reference herein) contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projects as well as the current beliefs and assumptions of our management. Words such as "outlook", "believes", "expects", "appears", "may", "will", "should", "anticipates", or the negative thereof or comparable terminology, are intended to identify such forward looking statements. Any statement that is not a historical fact, including estimates, projections, future trends and the outcome of events that have not yet occurred, is a forward-looking statement. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under the section entitled "Risk Factors" in our reports filed with the SEC. Many of such factors relate to events and circumstances that are beyond our control. You should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the information contained in this press release.