Market Watch:
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.
Image from Java Detour