Getting your Trinity Audio player ready...
April 19 (Reuters) – Jamba Inc said it plans to buy
the product formulation and intellectual property for the canned
Jamba energy drink from Nestle as Jamba tries to take
more control of its packaged drink business.
Jamba, which operates a chain of smoothie stores, said it
also plans to expand the distribution of the Jamba energy drinks
beyond the Northeast, where it is sold currently.
It said on Thursday that it expects the deal to close by
June 20. Financial terms were not disclosed.
While Jamba previously used only licensing agreements to
sell packaged goods with its brand name, the company said it
will explore joint ventures and other distribution agreements.
Jamba licenses its name to Nestle, which manufactures Jamba
branded energy drinks.
