HICKSVILLE, NY--(Marketwired - Sep 8, 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 its beverages are now sold through Krasdale Foods ("Krasdale"), which services over 2,500 customers across seven states in the Northeast.
Philip Thomas, Chief Executive Officer of the Company, stated, "We are excited to build this new relationship and further enhance our distribution network through this partnership with Krasdale, as they are a high quality wholesaler servicing a wide array of independent grocers throughout the Northeast. Our brand has its roots in the Northeast and this partnership will further strengthen our presence across this market."
The Company will also be participating at the Krasdale Annual Buying Show held at the Westchester County Expo Center in White Plains, New York on September 8, 2016. Buyers from C-Town, Bravo, Aim, Market Fresh and independent owners come to this show to experience new items and special deals, such as one-time buys, seasonal items or new items for in-line opportunities. The Company will be presenting its 20-oz and gallon bottles at the show.
Long Island Iced Tea® is a RTD tea that will be available through Krasdale in gallon bottles, with flavors including Lemon, Peach, Mango, Southern Sweet Tea and Green Tea & Honey.
About Krasdale Foods
Krasdale is an independent grocery wholesaler which supplies more than 7,000 products to food retailers (Aim, Bravo and C-Town supermarkets), mostly in the New York City metropolitan area. Centrally located in Hunts Point, NY, Krasdale's local direct-buy warehouse currently serves over 2,500 customers in seven states. It offers Krasdale-labeled, private-label, and regional brands, as well as ethnic and specialty food items. Krasdale also provides merchandising and marketing services to its customers. Abraham Krasne founded Krasdale as A. Krasne Inc. in 1908, and is headquartered in White Plains, New York. For more information, visit Krasdale's website at www.krasdalefoods.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.