Two Corporate-Owned Stores to be Purchased and Operated by Former CFO
SAN FRANCISCO, Dec. 17 /PRNewswire-FirstCall/ -- Java Detour, Inc.
(Pink Sheets: JVDT) is proud to announce that it has sold two of its
corporate-owned stores, in Yuba City and Marysville, to a new franchisee, Java
NorCal LLC. The two stores were sold for a total of $1.5 million, of which
$1.2 million was paid in cash. Java NorCal LLC is operated by Java Detour's
former CFO Ronald Sands.
"We are pleased and fortunate to have somebody with as much experience and
knowledge with our brand owning and operating these two new franchise stores.
This is a strong move for Java Detour as we continue to expand our franchise
operations," said Michael Binninger, CEO of Java Detour.
"We are very excited to be part of the Java Detour franchise system. We
see tremendous opportunity with this brand. We will continue the high
standards of these successful stores and plan to be an integral part of Java
Detour's franchise expansion. We hope these are the first two of many
franchised stores that we will operate in the future," said Ronald Sands,
managing member of Java NorCal and former CFO of Java Detour.
Java Detour now has 21 stores, 10 of which are operated by franchisees.
Java Detour has stores in California, Nevada, Minnesota, Wisconsin and China.
The company expects to open additional stores in 2009 in the United States and
overseas.
About Java Detour
Java Detour(R) is an upscale boutique brand. Java Detour stores sell the
world's finest gourmet coffees, fruit smoothies and selected baked goods from
retail facilities that specialize in speed and convenience. Java Detour's
objective is to establish the Java Detour concept and brand as one of the most
recognized and successful gourmet beverage retailers in the world. For more
information, please visit our website at http://www.javadetour.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to
a number of risks, assumptions and uncertainties that could cause our actual
results to differ from those projected in such forward-looking statements.
These risks, assumptions and uncertainties include: the failure to develop and
maintain our brand, changes in consumer preferences, competitive pressures,
ability to develop franchises and other risks referenced in our filings with
the Securities and Exchange Commission. We disclaim and do not undertake any
obligation to update or revise any forward-looking statements.
SOURCE Java Detour, Inc.
Michael Binninger, CEO of Java Detour, Inc., +1-415-241-8020
