HICKSVILLE, NY--(Marketwired - Jun 28, 2017) - Long Island Iced Tea Corp. (
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 (
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.
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 (
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 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.