Wells Fargo Increases Jamba Juice Credit Agreement
Jamba Juice Company announced that it increased its credit agreement with Wells Fargo Bank to $15 million. The amended credit agreement expires on June 30, 2016.
“We are pleased to continue our strong relationship with Wells Fargo and believe that this agreement speaks to the growing financial strength of the Company as we continue to build on our growth initiatives,” stated James D. White, chairman, president and CEO, Jamba Inc. “We do not anticipate the need to borrow against the line, but felt that it was necessary to have additional working capital from which to fund current and future growth initiatives.”
Founded in 1990, Jamba Juice Company is a restaurant retailer of specialty beverage and food offerings, which include whole fruit smoothies, fresh squeezed juices and juice blends, hot coffee and teas, hot oatmeal, breakfast wraps, sandwiches and mini-wraps, California Flatbreads, frozen yogurt and a variety of baked goods and snacks.