USA: Jamba & Core-Mark Sign 3 Year Agreement
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Monday, 01 March 2010 |
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Jamba, Inc. and Core-Mark Holding Company,have announced that they
signed a non-binding memorandum to offer and deliver health-oriented
Jamba branded food and beverage consumer products to Core-Mark serviced
convenience retail locations.
The parties aim through this collaboration to strengthen Core-Mark's
fresh and health-oriented food and beverage product offering to its
convenience store customers and expand Jamba's consumer product
offerings in support of Jamba's strategic goal of building a consumer
products growth platform.
The intent of this memorandum is to provide an outline for the
establishment of a three year relationship, which would give Core-Mark
the generally exclusive distribution rights of the Jamba-branded
products to the convenience store retail channel. The parties intend
for the Jamba-branded products to be manufactured by Jamba's existing
and new licensees, joint venture partners, and co-manufacturers.
"We believe there is an untapped opportunity to satisfy the convenience
store customer looking for fresh and healthy food and beverage
products," said J. Michael Walsh, Chief Executive Officer, Core-Mark
Holding Company, Inc. "A Jamba Juice consumer products line will help
us capture this opportunity." Core-Mark services approximately 24,000
convenience retail locations throughout the United States and Canada.
"We look forward to expanding Jamba's brand accessibility and product
usage occasion by offering unique, great tasting, and health-oriented
food and beverage consumer products through this channel," stated James
D. White, President and Chief Executive Officer, Jamba, Inc.
"Core-Mark, in their position as a major broad-line distributor to the
convenience retail channel, offers Jamba the opportunity to reach
thousands of new customers."
CstoreWorld 240210
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