San Francisco Business Times:

Smoothie business Jamba Inc. sold 25 of its shops in Washington to a franchisee in that state.

Emeryville-based Jamba promised to develop two more stores in the Seattle area as part of this deal. Jamba didn’t give a price in the deal.

It has been selling stores as part of a “refranchising initiative” to raise money. The company plans to add 50 new franchise shops in the United States this year. Right now it has 287 franchise shops.

This sale was to Prudence Swann, principal of PB Swann LLC, an existing franchisee in Washington.