Jamba Juice franchisee SuSu Hospitality Group LLC has acquired 13 company-owned locations and signed a 10-unit development agreement, parent Jamba Inc. said on Wednesday.
The deal is a victory for Jamba, which has been focused on shedding company locations for three years.
“Jamba accelerated its shift to an asset-light, franchise-focused business model in 2014 to create shareholder value,” said Dave Pace, president and CEO of Jamba Inc., in a statement. “When I started as CEO last year, we identified the Chicago market as the final step necessary to complete that journey. With today’s announcement, I am pleased to share the asset-light transition is substantially complete.”
Pace called SuSu the right partner for the Chicago market and praised the franchisee’s track record of operational excellence.
"We are delighted to expand our market presence and strengthen our relationship with the Jamba brand,” said Sunil Bedi, CEO of SuSu Hospitality Group, in a statement.
“Jamba’s fresh, hand-crafted blends offer guests convenient, great tasting and nutritious options that complement the active lifestyle in Chicago. We look forward to the long-term growth of Jamba in this market,” added Suchita Bedi, president of SuSu Hospitality Group.
Upon completion of the deal, SuSu Hospitality Group will have 25 units across Illinois and Ohio.
Jamba currently has 14 locations in the Chicago area, with 5 units located within the city and a sixth outlet at O’Hare International Airport.
As of January 2017, there were 900 Jamba Juice units across the globe.
Jamba Inc. is based in Frisco, Texas.
Contact Dan Orlando at [email protected]
Follow him on Twitter: @danamx