Jamba - Warrants (MM) (NASDAQ:JMBAW)
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Nestlé USA, part of Nestlé, S.A., the world’s largest food and beverage
company, and Jamba, Inc. (NASDAQ: JMBA;
NASDAQ: JMBAU; NASDAQ: JMBAW),
the leading blender of fruit and other naturally healthy ingredients,
today announced that they are voluntarily suspending production and
shipments of the Jamba Ready-to-Drink beverages introduced earlier this
year due to production issues.
“We have made the difficult decision to suspend production and shipments
of our Jamba Ready-to-Drink Smoothies and Juicies,” said Rob Case,
president, Nestlé USA Beverage Division. “We have faced challenges
recently with manufacturing on a consistent basis, resulting in
inventory and out-of-stock issues. This is particularly disappointing
given the strong reception we have received from consumers and customers
alike. We at Nestlé are fully committed to re-assessing our Jamba
Ready-to-Drink beverage proposition so that we can come back stronger
and positioned for success in the future.”
“Since the launch of Ready-to-Drink six months ago, Jamba carved out a
firm foothold in the super-premium juice category, said James White,
president and Chief Executive Officer, Jamba, Inc. “Customer sell-in and
feedback exceeded expectations, and the six SKUs all rank among the top
in the category for consumption. While this is an unfortunate event,
this suspension will provide the opportunity to evaluate new
manufacturing solutions which could enable the Jamba brand to secure an
even stronger position in ready-to-drink beverages.”
Jamba Smoothies and Jamba Juicies have been available in grocery and
convenience stores throughout California, Oregon, Utah, Nevada, Arizona,
Idaho, Washington and Colorado.
About Nestlé USA
Named one of “America’s Most Admired Food Companies” in Fortune
magazine for the eleventh consecutive year, Nestlé USA provides quality
brands and products that bring flavor to life every day. From nutritious
meals with LEAN CUISINE® to baking traditions with NESTLÉ®
TOLL HOUSE®, Nestlé USA makes delicious, convenient, and
nutritious food and beverage products that enrich the very experience of
life itself. That’s what “Nestlé. Good Food, Good Life” is all about.
Nestlé USA, with 2007 sales of $8.25 billion, is part of Nestlé
S.A. in Vevey, Switzerland — the world’s largest food company — with
sales of $90 billion. For product news and information, visit Nestléusa.com
or NestléNewsroom.com.
About Jamba, Inc.
Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) is a holding
company and through its wholly-owned subsidiary, Jamba Juice Company,
owns and franchises JAMBA JUICE® stores. JAMBA JUICE is the
leading blender of fruit and other naturally healthy ingredients.
Founded in 1990, Jamba strives to inspire and simplify healthy living
for its customers and employees. As of October 7, 2008, JAMBA JUICE had
749 stores, of which 520 were company-owned and operated. For the
nearest location or a complete menu including our breakfast smoothies
with organic granola, please call: 1-866-4R-FRUIT or visit the JAMBA
JUICE website at www.jamba.com.
Forward-looking Statements
This press release (including information incorporated or deemed
incorporated by reference herein) contains “forward-looking statements”
within the meaning of the Private 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 companies do not assume any obligation to update the
information contained in this press release.