Long Island Iced Tea Corp. Extends International Focus, Announces Consulting Arrangement with Asia Specialists Ben Cheng & Ko...
June 20 2017 - 8:00AM
Marketwired
Long Island Iced Tea Corp. Extends International Focus,
Announces Consulting Arrangement with Asia Specialists Ben Cheng
& Koh Tai Hong
HICKSVILLE, NY-(Marketwired - Jun 20, 2017) - Long Island Iced
Tea Corp. (NASDAQ: LTEA) (the "Company"), a growth-oriented company
focused on the non-alcohol ready-to-drink ("NARTD") tea segment in
the beverage industry, today announced that it has engaged Ben
Cheng & Koh Tai Hong, Singaporean-based consumer goods
specialists, to assist the Company in the development of its Asia
footprint. Messrs. Cheng and Hong are working closely with recently
engaged international brand consultant Jeff Busch as part of Long
Island Iced Tea Corp.'s international expansion.
Mr. Cheng's background includes over 25 years working in Asia,
including 18 years with AB InBev as VP Asia Pacific - International
Business Development where he managed all Asian markets accountable
for exports, distribution, co-packing and licensing partnerships,
as well as global brands expansion, strategic and partner
relationships. Currently, Mr. Cheng advises a variety of companies
in the beverage and related categories.
Mr. Hong's background includes over 27 years working in Asia in
a variety of senior sales, marketing, operations and manufacturing
roles. Mr. Hong worked for Asia Pacific Breweries in multiple
markets including Singapore, Burma, Cambodia, Vietnam and Laos. He
has an intimate knowledge of beverage distribution systems and
co-packing facilities in Asia.
Philip Thomas, Chief Executive Officer of the Company, stated,
"We feel it is critical to engage specialists such as Ben and Koh,
as 75% of global NARTD tea volume is sold in the Asia Pacific
region.1 They will be working in concert with Jeff Busch towards
our international expansion in Asia. Ben & Koh join the
business on a 6-month consulting basis, to assist Long Island Iced
Tea Corp. identify, develop and grow our Asia footprint."
Mr. Cheng commented, "We are very excited to join such a
fast-growing business spearheaded by an iconic and globally
recognized brand name. NARTD tea has a substantial market in North
Asia and is a fast-growing market in South East Asia, and we look
forward to assisting in translating that global awareness into
Asian and international growth for the Company."
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 Lemonade™, 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.
1 Euromonitor International. "RTD Tea in Asia Pacific". May
2017
Contact Information
Contacts: For Investors Phil Thomas Long Island Iced Tea Corp.
1-855-542-2832 info@longislandteas.com