Long Island Iced Tea Corp. Receives First Purchase Order from Food Lion Ahead of Schedule
November 21 2016 - 8:00AM
Marketwired
Long Island Iced Tea Corp.
Receives First Purchase Order from Food Lion Ahead of
Schedule
Long Island Iced Tea(R)
Available in Over 1,000 Locations by Early
December
HICKSVILLE, NY-(Marketwired -
Nov 21, 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 that it has
received its first purchase order from Food Lion LLC ("Food
Lion").
Long Island Iced
Tea® will be available in all Food
Lion locations, representing over 1,000 stores across the
Southeastern and Mid-Atlantic states, by early December in both 20
ounce and gallon bottles. This is the largest partnership in the
Company's five-year history and the second major partnership for
the Company in the Southeast.
Philip Thomas, Chief
Executive Officer of the Company, stated, "This partnership with
Food Lion is the largest in our company's history, and we are
excited to be available in all of its stores by next month. The
Company has achieved significant milestones in 2016, and receiving
this first purchase order from our largest ever partnership is a
fantastic way to finish the year. As one of the premier regional
chains, Food Lion's support further confirms our belief that our
flagship Long Island Iced Tea® brand, a premium tea brewed
with all natural ingredients, offered to consumers at an affordable
price, positions our company as an attractive partner across many
geographies."
To locate your nearest
available Food Lion store, please visit www.foodlion.com/stores.
About Food Lion
LLC
Food Lion, based in
Salisbury, N.C., since 1957, has more than 1,000 stores in 10
Southeastern and Mid-Atlantic states and employs more than 65,000
associates. By leveraging its longstanding heritage of low prices
and convenient locations, Food Lion is working to own the easiest
full shop grocery experience in the Southeast, anchored by a strong
commitment to affordability, freshness and the communities it
serves. Through Food Lion Feeds, the company has committed to
provide 500 million meals to individuals and families in need by
the end of 2020. Food Lion is a company of Delhaize America, a U.S.
division of Amsterdam-based Royal Ahold Delhaize Group
(OTCQX: ADRNY). For more information,
visit www.foodlion.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