HICKSVILLE, NY--(Marketwired - Sep 21, 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 a new partnership with Vaquería Tres Monjitas ("Tres Monjitas") to distribute its beverages in Puerto Rico. The Company is committed to expanding its distribution across new geographies and this is its first distribution agreement in Puerto Rico.
Philip Thomas, Chief Executive Officer of the Company, stated, "We are excited to build this partnership with Tres Monjitas and bring Long Island Iced Tea® to Puerto Rico, a great market where we believe our quality ingredients at an affordable price will resonate with consumers. Tres Monjitas has a long history of being one of the premier beverage distributors in Puerto Rico, and we are thrilled to be joining its family of high quality beverage brands. Expanding into Puerto Rico is a natural progression in our global outlook, and compliments distribution positions we have already established in Canada and Korea."
"We are proud to expand the portfolio of top line products distributed by Tres Monjitas with the addition of Long Island Iced Tea to our roster of brands. This partnership combines the power of a high quality, well-known product as is Long Island Iced Tea with a service tradition and market knowledge of almost 100 years brought in by Tres Monjitas", said Luis Defendini, Sales Director for Tres Monjitas.
Long Island Iced Tea® is a RTD tea now available through Tres Monjitas in 20-oz and gallon bottles, with flavors including Lemon, Peach, Raspberry, Mango, Green Tea & Honey, Half Tea & Half Lemonade, Diet Lemon and Diet Peach.
About Vaquería Tres Monjitas:
For almost 100 years, Tres Monjitas has worked hard to bring products of the highest quality to Puerto Rican households. Tres Monjitas generates 35% of total sales of fresh milk in Puerto Rico. It has a range of over 250 products in its portfolio of sale, including Fresh Milk Grade A, lactose-free milk, milk derivatives, 100% juices, fruit drinks, low calorie drinks, water bottled, soft shortbread and iced tea. Additionally, Tres Monjitas is a prominent distributor of international beverage brands. Tres Monjitas services a majority of supermarkets in Puerto Rico. Retailers include Sam's Club Walmart, Amgigo, Econo Selectos' and Starbucks. The company is continually committed to distributing fresh products across Puerto Rico, and help contribute to the progress of a better Puerto Rico. For more information, visit Tres Monjitas' website at www.tresmonjitas.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 regional chains and 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.