US-based food-service brands developer Focus Brands (FBI) has signed a definitive merger agreement to acquire Jamba, the parent company of Jamba Juice.

Worth around $200m, the agreement will see a subsidiary of FBI commence a tender offer to purchase all of the outstanding shares of Jamba common stock for $13 per share in cash.

To fund this acquisition, FBI will use available cash-on-hand alongside borrowing capacity under its existing credit facilities.

Focus Brands CEO Steve DeSutter said: “Benefiting from an extremely loyal customer base and strong franchise operators, Jamba Juice is one of the category leaders in the fast-growing smoothie and juice category.

“We are excited to welcome Jamba Juice with such an iconic heritage into our family of well-known and highly loved fan favourite brands.”

“We are excited to welcome Jamba Juice with such an iconic heritage into our family of well-known and highly loved fan favourite brands.”

Completion of the deal is subject to customary conditions and is expected to take place during Q3 of 2018.

Upon completion of the deal, Jamba will be a privately-held subsidiary of FBI and will continue to operate as an independent brand.

Jamba CEO Dave Pace said: “We are delighted to have reached this agreement with Focus Brands and are confident that it will result in a positive outcome for our guests, our franchisees and our employees.

“Over the last few years, we have worked hard to strengthen our foundation and reposition this iconic brand for the future. Partnering with Focus Brands will allow us to build on this work and further accelerate the company’s growth.”