Jamba Sells 100 Calif. Stores After Activist Pressure

Law360, New York (April 2, 2015, 3:31 PM EDT) -- Jamba Juice parent Jamba Inc. said Wednesday that it will sell 100 company-owned stores in California to a franchise group run by the former head of Anheuser-Busch InBev for $36 million, part of a strategy to appease activist investors who pressured Jamba to cut costs.

Jamba said it inked an asset purchase agreement to unload and refranchise 100 company-owned stores in the San Francisco, Sacramento and San Diego markets to current Jamba franchise partner Vitaligent LLC for $36 million in cash. The sale marks Jamba’s latest cost-cutting...
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