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 Geyser
Big 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.