Core-Mark, Jamba Juice Sign Supply Agreement
Emeryville, Calif. -- Core-Mark Holding Co., one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America, and Jamba Inc. signed a non-binding memorandum of intent to establish a relationship to offer and deliver health-oriented Jamba-branded food and beverages to Core-Mark-serviced convenience stores.
Jamba Inc., which owns and operates the Jamba Juice Stores restaurant chain, hopes to expand its consumer products growth platform, while Core-Mark's goal is to strengthen its fresh and health-oriented food and beverage product offerings to its c-store customers.
The memorandum provides an outline for 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, CEO, Core-Mark Holding Co. 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 CEO, 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."
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Jamba Inc., which owns and operates the Jamba Juice Stores restaurant chain, hopes to expand its consumer products growth platform, while Core-Mark's goal is to strengthen its fresh and health-oriented food and beverage product offerings to its c-store customers.
The memorandum provides an outline for 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, CEO, Core-Mark Holding Co. 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 CEO, 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."
Related News:
Core-Mark Refinances Debt
Core-Mark Changes Up Executive Team Roles