(Business Wire) — Jamba Juice Company (NASDAQ: JMBA) and Venus Williams announced today the signing of a non-binding letter of intent to form a joint venture to develop up to five Jamba Juice stores in the Washington D.C./Maryland marketplace over the next two years. The venture will also provide a platform for a long-term relationship, which would provide Ms. Williams’ organization with the certain exclusive rights to franchise the Jamba Juice brand throughout the Washington D.C./Maryland marketplace. The terms of the arrangement are expected to be finalized within the next 60 days and the first store to open later this summer. The two organizations’ goal in establishing this partnership is to leverage the strength of their respective brands to promote health and wellness in the D.C. area and to work together to help promote lifestyle changes to fight childhood obesity. In addition, the expansion of Jamba stores in this marketplace will help promote economic development and provide job opportunities for local residents.