Jamba Juice buys Talbott Teas
February 21, 2012
Smoothie shop company Jamba Juice bought Talbott Teas, a Chicago-based business started in 2003.
Emeryville-based Jamba Inc. didn’t say what it paid in this deal. It will add Talbott’s selection of 23 blends of teas to its stable of what it calls “lifestyle brands.”
James White, Jamba’s chairman, president and CEO, praised Shane Talbott, the boss of the tea company, saying: “I welcome his creativity on our team.”
Talbott sells its teas online through its own website as well as other sites, and they’re also sold at some grocery stores and hotels and restaurants in the Chicago area.
Jamba, which has been selling company owned shops as franchises, hopes to grow by buying other companies and brands.
As of the end of the quarter on Oct. 4, Jamba had an accumulated deficit of $356,956,000. That’s how much money it has lost or written off since it started. That is down slightly from an accumulated deficit of $358,493,000 at the end of 2010.
Karen Luey is chief financial officer of Jamba Inc.