Long Island Iced Tea Corp. Expands Distribution through C&S …
HICKSVILLE, NY–(Marketwired – May 2, 2017) – Long Island Iced Tea Corp. (NASDAQ: LTEA) (the “Company”), a growth-oriented company focused on the non-alcohol ready-to-drink (“NARTD”) segment in the beverage industry, today announced that its flagship brand Long Island Iced Tea® will now be distributed through C&S Wholesale Grocers, Inc. (“C&S”), which is the largest wholesale grocery supply distributor in the United States.
C&S currently serves approximately 6,500 stores from more than 50 locations in 15 states. Among its customers are many of America’s best known companies, including Stop & Shop, Giant of Carlisle, Giant of Landover, BI-LO/Winn-Dixie, Safeway, and Target. C&S is one of the largest privately held companies in the U.S., with fiscal 2015 net sales of approximately $30 billion.
Philip Thomas, Chief Executive Officer of the Company, stated, “We are thrilled to begin this new partnership with C&S, a premier national distributor with a vast network that will enable us to continue our growth in new and existing markets. C&S is the largest wholesale grocery supply distributor in America, and partnering with them demonstrates the attractive value proposition of Long Island Iced Tea®, a premium iced tea positioned at an affordable.”
Long Island Iced Tea® is a NARTD tea available through C&S in gallon bottles.
C&S Wholesale Grocers, Inc. is the largest wholesale grocery distributor in the United States, based on revenue. Its net sales, together the with net sales of affiliated companies, were approximately $30 billion in fiscal 2015, making it the tenth largest privately held company in the United States, as ranked by Forbes magazine.
Founded in 1918, C&S provides grocery wholesaling and distribution services to the retail grocery industry. From its distribution centers located in the Northeast, mid-Atlantic, Southeast, Southwest, West Coast, and Hawaii, C&S delivers food and non-food products to approximately 6,500 grocery stores across the United States. Through its subsidiaries and affiliates, C&S also provides third-party logistics solutions to large food manufacturers, operates retail grocery stores, licenses certain trademarks for use in the retail grocery business and develops technologies for use in automated warehouses.
To learn more about C&S, visit www.cswg.com.
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 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.