HICKSVILLE, NY--(Marketwired - Mar 14, 2017) - 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 the launch of The Original Long Island Brand™ Lemonade. Infused with a splash of tea and made with 100% raw cane sugar and non-GMO ingredients for a crisp, refreshing and natural taste, this premium lemonade is highly differentiated from other lemonade beverages in the US market.
Philip Thomas, Chief Executive Officer of the Company, stated, "Beyond creating a delicious and refreshing lemonade, we made sure that the "better-for-you" attributes that are prominent within our iced tea range were incorporated into our new lemonade brand."
"This exciting new lemonade is available in nine real-fruit flavors, including Traditional, Lime, Peach, Watermelon, Mango, Strawberry, Kiwi Strawberry, Cherry and Wildberries, and incorporates a subtle splash of tea essence. We feel the Company is bringing a true point of difference to the conventional lemonade brands on the market today," Mr. Thomas added.
The addition of the lemonade brand to the Company's portfolio comes after the recent acquisition of Alo Juice®. This further establishes the Company as a key player within the "better-for-you" beverage category.
Mr. Thomas commented, "Long Island Iced Tea® products are moving successfully in stores and we saw the opportunity to leverage our brand and positioning to capitalize on a different product offering. One that we believe would excite current customers and attract new consumers to our brand."
According to IBISWorld, lemonade comprises 8.2% of the $12.0 billion juice market in 20161. Lemonade sales totaled 451 million liters in 20152.
The Original Long Island Brand™ Lemonade range consists of 9 real-fruit flavors, available in both single 18oz bottles and 12-packs. The product is a natural complement to the Company's Long Island Iced Tea®, which comprises 12 different iced tea flavors available in single 18oz bottles, gallons and 12-packs.
About Long Island Iced Tea Corp.
Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea and lemonade 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 and products, 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 IBISWorld Industry Report 31211c, "Juice Production in the US", January 2017.
2 Statista, "Sales of lemonade in the United States in 2004 and 2015 (in million liters)".