Long Island Iced Tea Corp. Announces Big Geyser Long-Term Strategic Distribution Partnership
April 19 2017 - 7:47AM
Marketwired
Most Significant Distribution Agreement in Company
HistoryPartnering with Largest Independent Non-Alcoholic Beverage
Distributor in New York Metro
HICKSVILLE, NY-(Marketwired - Apr 19, 2017) - Long Island Iced
Tea Corp. (NASDAQ: LTEA) (the "Company"), a growth-oriented company
focused on the non-alcoholic ready-to-drink ("NARTD") segment in
the beverage industry, is pleased to announce that it has signed a
long-term strategic distribution agreement with Big Geyser, the
largest independent non-alcoholic beverage distributor in metro New
York.
Big Geyser will be the exclusive distributor of the Company's
flagship iced tea and lemonade with a splash of tea 18oz bottle
products in the metro New York region. The new partnership will
become effective on April 24, 2017 and cover the five boroughs of
NYC, Westchester, Putnam, Nassau and Suffolk counties.
Philip Thomas, Chief Executive Officer of the Company,
commented, "Big Geyser is the single strongest distributor in the
New York metropolitan market and we are proud to join their dynamic
portfolio of iconic brands. This partnership is transformational in
having the potential to increase our metro New York footprint by
over ten times to 25,000 doors, and allow us to restructure our
business and focus on building our brands alongside Big
Geyser."
Mr. Thomas added "As a founder of Long Island Iced Tea Corp., it
has always been my desire to deliver premium beverages to consumers
at an affordable price. I believe the distribution through Big
Geyser of our non-GMO premium tea, together with our recently
launched lemonade with a splash of tea, will see this desire become
a reality in the New York area."
About Big GeyserBig Geyser has been building brands in New York
since 1986 and has a distribution footprint of over 25,000 doors,
servicing accounts in all channels of trade throughout the 5
boroughs of NYC, Westchester, Putnam, Nassau and Suffolk counties.
Founded by Irving Hershkowitz, a legend in the New York beverage
world, Big Geyser started as a small operation and has transformed
into one of the largest distributors of premium non-alcoholic
beverages and snacks in the country. For more information about Big
Geyser, please visit www.biggeyser.com.
About Long Island Iced Tea Corp. Headquartered in Long Island,
NY, Long Island Iced Tea Corp. operates in the non-alcohol
ready-to-drink segment of the beverage industry. The Company's
flagship brand 'The Original Long Island Brand Iced Tea®', together
with 'The Original Long Island Brand LemonadeTM' are marketed as
premium beverages made with non-GMO ingredients. The company also
imports and markets 'ALO Juice®' a functional Aloe Vera based
beverage. The Company's portfolio of premium brands sits within the
'better-for-you' category of the beverage industry, and are offered
to consumers at an affordable price, reflecting the Company's
mission. Its beverages are sold primarily through a network of
regional chains and distributors primarily on the East Coast and
the Midwest of the United States, as well as Canada and Latin
America.
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