Category: Food & Beverage
- Published: 13 October 2016
- Written by Editor
Long Island Iced Tea Corp. Announces Largest Partnership in Company History With Food Lion
HICKSVILLE, NY--(Oct 13, 2016) - 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 that it has entered into a partnership with Food Lion LLC ("Food Lion") to make Long Island Iced Tea® available in its locations. Food Lion, based in Salisbury, N.C., is one of the largest supermarket chains in the Southeast United States with over 1,000 locations in 10 Southeastern and Mid-Atlantic states employing more than 65,000 associates. This is the largest partnership in the Company's five-year history.
Philip Thomas, Chief Executive Officer of the Company, stated, "This partnership with Food Lion is the biggest in our company's history, and together with our recent listing on the NASDAQ, is a key milestone in the development of our business across the Southeast and the US. As one of the premier regional chains, Food Lion's support further confirms our belief that our flagship Long Island Iced Tea brand, a premium tea brewed with all natural ingredients, offered to consumers at an affordable price, positions our company as an attractive partner across many geographies, reinforcing the validity of our strategy to progress from distributors to regional chains to national chains."
About Food Lion LLC
Food Lion, based in Salisbury, N.C., since 1957, has more than 1,000 stores in 10 Southeastern and Mid-Atlantic states and employs more than 65,000 associates. By leveraging its longstanding heritage of low prices and convenient locations, Food Lion is working to own the easiest full shop grocery experience in the Southeast, anchored by a strong commitment to affordability, freshness and the communities it serves. Through Food Lion Feeds, the company has committed to provide 500 million meals to individuals and families in need by the end of 2020. Food Lion is a company of Delhaize America, a U.S. division of Amsterdam-based Royal Ahold Delhaize Group. For more information, visit www.foodlion.com.
About Long Island Iced Tea Corp.
Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the 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 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.