Long Island Iced Tea Corp. Continues Canadian Growth with Loblaws Partnership
June 28 2017 - 8:00AM
Marketwired
Long Island Iced Tea Corp. Continues Canadian
Growth with Loblaws Partnership Long Island Iced Tea(R) Available at 156 Loblaws
Across Canada HICKSVILLE, NY-(Marketwired - Jun 28, 2017) -
Long Island Iced Tea Corp. (NASDAQ: LTEA) (the "Company"), a growth-oriented company
focused on the ready-to-drink ("RTD") segment in the beverage
industry, today announced that it has secured placement of its
flagship brand Long Island Iced Tea® in 156 Loblaws supermarkets
across Canada. Loblaws is one of the largest supermarket chains in
Canada and this is the largest international chain account
agreement in the history of the Company.The Company is committed to expanding its
distribution across new geographies and announced in September 2016
its first distribution agreement in Canada with Unique Foods.
According to Euromonitor, the ready-to-drink tea market in Canada
is forecast to expand by 4% annually over the next five years to
reach C$626 million in sales by 2020 (Source: Euromonitor
International, "RTD Tea in Canada", February 2016). Headquartered
in Brampton and founded in 1919, Loblaws has over 2,000 supermarket
locations in British Columbia, Ontario and Quebec. It is a division
of Loblaw Companies Limited (TSX: L), Canada's largest food
distributor.Philip Thomas, Chief Executive Officer of the
Company, stated, "We first announced our entry into Canada in
September, and are very excited with the progress of our expansion
into this new market. Loblaws is one of the largest grocery chains
in Canada and is the largest international account in the Company's
history, demonstrating the momentum that our brand is generating in
new markets. Long Island Iced Tea® is a premium iced tea positioned
at an affordable price and we are thrilled to be partnering with
such a strong chain as Loblaws as we continue to build our presence
in Canada."Long Island Iced Tea® is a RTD tea is available
through Loblaws in gallon bottles, with flavors including Lemon,
Peach and Mango.About Loblaws:Founded in 1919 when Theodore P. Loblaw and J.M.
Cork opened their first Loblaw Groceterias in the area of Toronto,
today Loblaws is one of the leaders in the Canadian food retail
industry and continues to support innovations in the supermarket
industry. Loblaws is a chain with over 2,000 supermarket locations
in Canada, with stores in British Columbia, Ontario and Quebec. It
is a division of Loblaw Companies Limited, Canada's largest food
distributor. To learn more about Loblaws, visit
www.loblaws.ca.About Loblaw Companies
Limited:Loblaw Companies Limited (TSX:
L) is Canada's food and pharmacy leader, the
nation's largest retailer, and the majority unitholder of Choice
Properties Real Estate Investment Trust. Loblaw provides Canadians
with grocery, pharmacy, health and beauty, apparel, general
merchandise, banking, and wireless mobile products and services.
With more than 2,300 corporate, franchised and Associate-owned
locations, Loblaw, its franchisees, and Associate-owners employ
approximately 192,000 full- and part-time employees, making it one
of Canada's largest private sector
employers.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 all-natural, 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 StatementsThis 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.Contact Information
- Contacts:For InvestorsPhil ThomasLong Island Iced Tea
Corp.1-855-542-2832info@longislandteas.com