Long Island Iced Tea Corp. Continues Expansion into Latin America with New Distribution Agreement in Colombia
February 07 2017 - 8:00AM
Marketwired
Long Island Iced Tea Corp. Continues Expansion into Latin
America with New Distribution Agreement in Colombia
Announces First Partnership in South America
HICKSVILLE, NY-(Marketwired - Feb 7, 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 a new partnership to
distribute its beverages in Colombia through Diviza S.A.
("Diviza").
With an estimated population of over 47 million, Colombia is the
second largest country in South America1. The NARTD tea market in
Colombia has grown at a 32% CAGR from 2010 to 2015, and is expected
to grow another 26% to reach COP$585 billion (USD$205 million) by
20202.
Philip Thomas, Chief Executive Officer of the Company, stated,
"We are extremely proud and excited to be announcing our first
partnership in South America. This partnership continues the
international expansion of our flagship Long Island Iced Tea brand
as well as our recently acquired ALO Juice brand. We believe that
Diviza is a great local partner in Colombia, which covers a
significant amount of the country and maintains relationships with
major chain accounts such as Grupo xito and Olmpica."
"We are very excited to welcome Long Island Iced Tea and ALO
Juice to our portfolio and glad we look forward to working together
to build these brands in our market," added Mauricio Zapata,
co-founder of Diviza S.A.
Long Island Iced Tea is an NARTD tea that will be available in
18oz bottles. ALO Juice is an NARTD functional beverage that will
be available in 0.5 liter and 1.5 liter bottles.
About Diviza S.A.
Diviza S.A. was founded in Barranquilla, Colombia on November
29, 1983. Its distribution covers approximately 40% of Colombia,
including the whole Atlantic coast region. Diviza S.A. employs over
30 individuals, distributes to over 1,500 locations and 700
auto-servicios (gas stations), and works with the biggest
wholesalers in the region. Diviza S.A. provides direct distribution
to major chain accounts in the region such as Grupo xito, Olmpica
and PriceSmart.
About Long Island Iced Tea Corp.
Headquartered in Long Island, New York, Long Island Iced Tea
Corp. operates in the non-alcohol 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.
1 Central Intelligence Agency. The World Factbook. 2016 2
Euromonitor International. "RTD Tea in Colombia". February 2016
Contacts: For Investors Phil Thomas Long Island Iced Tea Corp.
1-855-542-2832 info@longislandteas.com