Long Island Iced Tea Corp. Continues Northeast Expansion with ACME Partnership
October 24 2016 - 8:00AM
Marketwired
Long Island Iced Tea Corp. Continues Northeast Expansion with
ACME Partnership
Long Island Iced Tea(R) Now Sold Through All 179 ACME Locations
Across Northeast
HICKSVILLE, NY-(Marketwired - Oct 24, 2016) - Long Island Iced
Tea Corp. (NASDAQ: LTEA) (the "Company"), a growth-oriented company
focused on the ready-to-drink ("RTD") tea segment in the beverage
industry, today announced a new partnership to supply its beverages
to all 179 ACME Markets Inc. ("ACME") locations across the
Northeast.
Philip Thomas, Chief Executive Officer of the Company, stated,
"We are thrilled to begin this new partnership with ACME as we
continue to solidify our brand in the Northeast. ACME is a premier
supermarket chain and we believe its network will help us to
broaden our distribution in the region, reinforcing the validity of
our strategy to progress from distributors to regional chains to
national chains. Our brand has its roots in the Northeast and this
partnership will further strengthen our presence across this
market."
This is the Company's first foray into ACME locations. Long
Island Iced Tea is a RTD tea now available at ACME in gallon
bottles, with flavors including Lemon, Peach and Southern Sweet
Tea.
About ACME Markets Inc.
Founded in South Philadelphia in 1891 by Samuel Robinson and
Robert Crawford, ACME is a regional grocery chain that emphasizes
quality products, low prices, and friendly service. In 2013, AB
Acquisition LLC acquired ACME from SUPERVALU, a transaction that
brought all Albertsons stores under singular ownership again.
Today, ACME operates 179 stores throughout Philadelphia, PA, New
Jersey, Delaware and Maryland, which is part of a 2,200+ store
operation that employs approximately 265,000 people nationwide. For
more information, visit ACME Markets' website at
www.acmemarkets.com.
About Albertsons LLC
Founded and based in Boise, Idaho, Albertsons is the second
largest supermarket chain in North America with 2,200 stores and
approximately 265,000 employees. It combines a strong local
presence and with the benefits of national scale. Albertsons
operates stores across 33 states and the District of Columbia under
18 well-known banners including Albertsons, Safeway, Vons,
Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets,
Pavilions, Star Market and Carrs. It is owned and operated by
Cerberus Capital Management. For more information, visit
Albertsons' website at www.albertsons.com.
About Long Island Iced Tea Corp.
Headquartered in Long Island, New York, Long Island Iced Tea
Corp. operates in the ready-to-drink tea segment of the beverage
industry. The Company has developed non-alcoholic, premium iced tea
bottled beverages made with quality ingredients that are offered at
an affordable price. The Company is currently organized around its
flagship brand Long Island Iced Tea, a premium, ready-to-drink iced
tea sold primarily on the East Coast of the United States through a
network of regional chains and distributors. The Company's website
is www.longislandicedtea.com.
Forward Looking Statements
This press release includes statements of the Company's
expectations, intentions, plans and beliefs that constitute
"forward looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to come within the safe
harbor protection provided by those sections. These statements,
which involve risks and uncertainties, relate to the discussion of
the Company's business strategies and its expectations concerning
future operations, margins, sales, new products and brands,
potential joint ventures, potential acquisitions, expenses,
profitability, liquidity and capital resources and to analyses and
other information that are based on forecasts of future results and
estimates of amounts not yet determinable. These statements include
any statement that does not directly relate to a historical or
current fact. You can also identify these and other forward-looking
statements by the use of such words as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "thinks,"
"estimates," "seeks," "predicts," "could," "projects," "potential"
and other similar terms and phrases, including references to
assumptions. These forward looking statements are made based on
expectations and beliefs concerning future events affecting the
Company and are subject to uncertainties, risks and factors
relating to its operations and business environments, all of which
are difficult to predict and many of which are beyond its control,
that could cause its actual results to differ materially from those
matters expressed or implied by these forward looking statements.
These risks include its history of losses and expectation of
further losses, its ability to expand its operations in both new
and existing markets, its ability to develop or acquire new brands,
its relationships with distributors, the success of its marketing
activities, the effect of competition in its industry and economic
and political conditions generally, including the current economic
environment and markets. More information about these and other
factors are described in the reports the Company files with the
Securities and Exchange Commission, including but not limited to
the discussions contained under the caption "Risk Factors." When
considering these forward looking statements, you should keep in
mind the cautionary statements in this press release and the
reports the Company files with the Securities and Exchange
Commission. New risks and uncertainties arise from time to time,
and the Company cannot predict those events or how they may affect
it. The Company assumes no obligation to update any forward looking
statements after the date of this press release as a result of new
information, future events or developments, except as required by
the federal securities laws.
Contacts: For Investors Phil Thomas Long Island Iced Tea Corp.
1-855-542-2832 info@longislandteas.com