Long Island Iced Tea Corp. Partners with Costco & Stew Leonard’s for Upcoming Grand Opening Events on Long Island
HICKSVILLE, NY–(Marketwired – Aug 16, 2017) – Long Island Iced Tea Corp. (NASDAQ: LTEA) (the “Company”), a growth-oriented company focused on the non-alcohol ready-to-drink (“NARTD”) tea segment in the beverage industry, today announced partnerships with Costco Wholesale Corporation (“Costco”) and Stew Leonard’s for upcoming grand openings of store locations on Long Island.
The Company will be providing marketing and product support, as both Costco and Stew Leonard’s continue to build their presence on Long Island, the home of Long Island Iced Tea®.
Philip Thomas, Chief Executive Officer of the Company, commented, “Our teas and lemonades carry the Long Island name, our company carries the Long Island name, and is part of the Long Island community. We are excited for these two fantastic retailers to be opening new stores in our back yard, and look forward to partnering with them as they celebrate their expansion on Long Island.”
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio; meat, bakery, deli, and produces; and apparel and small appliances. It also operates gas stations, pharmacies, optical dispensing centers, food courts, and hearing-aid centers; and engages in the travel businesses. In addition, the company provides gold star individual and business membership services. Costco currently operates 737 warehouses, including 512 in the United States and Puerto Rico, 97 in Canada, 37 in Mexico, 28 in the United Kingdom, 25 in Japan, 13 in Korea, 13 in Taiwan, eight in Australia, two in Spain, one in Iceland and one in France. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.
Stew Leonard’s began as a small dairy store founded in 1969 with just seven employees. Today, Stew Leonard’s is still family-owned and operated, but has grown to become a nearly $400 million business with more than 2,000 employees. The company has received worldwide acclaim for excellence in customer service and quality and was selected to FORTUNE magazine’s “100 Best Companies to Work for in America” list for ten consecutive years. In addition to the headquarters in Norwalk, Connecticut, Stew Leonard’s has stores in Danbury and Newington, Connecticut, Yonkers and Farmingdale, New York. For more information, please visit www.stewleonards.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.