Jamba Inc. (JMBA) said late Thursday it will buy the product formulation and intellectual property for its Jamba All-Natural Energy Drink from Nestle SA (NSRGY, NESN.VX) as part of its expansion plan. Jamba had collaborated with Nestle USA to launch the drink in the Northeast and plans to expand its availability outside of the region. "We've previously used only licensing agreements for our consumer packaged goods products. As we enter into the new phase of our approach to CPG, we'll explore joint venture, co-pack agreements and other sales and distribution arrangements to provide us with increased control of our CPG products and enhanced returns," said Chairman and Chief Executive James White in a statement. The deal is expected to close by June 20. -By Sue Chang, 415-439-6400; AskNewswires@dowjones.com Order free Annual Report for Jamba, Inc. Visit http://djnewswires.ar.wilink.com/?link=JMBA or call 1-888-301-0513
