Frisco-based Jamba Juice has entered into an agreement to be acquired by Atlanta-based Focus Brands Inc., according to a press release issued by the companies Aug. 2.
Focus Brands is acquiring Jamba Inc. for $13 per share in cash—a transaction valued at about $200 million.
According to the release, upon the completion of the transaction, Jamba Juice will continue to be operated as an independent brand.
“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,” Dave Pace, CEO of Jamba Inc., said in the press release. “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.”
Jamba Juice moved its headquarters from California to Frisco’s Hall Office Park in October 2016. The headquarters also operates a storefront from the location.
"Benefiting from an extremely loyal customer base and strong franchise operators, Jamba Juice is one of the category leaders in the fast-growing smoothie and juice category,” Steve DeSutter, CEO of Focus Brands Inc., said in the press release. “We are excited to welcome Jamba Juice with such an iconic heritage into our family of well-known and highly loved ’fan favorite’ brands.”
According to the release, Focus Brands is majority owned by affiliates of Roark, an Atlanta, Georgia-based private equity firm that focuses on investing in businesses in the restaurant, retail and other consumer sectors.