- Expands into Ecuador through New Partnership with Dinusa -
- Expands into Costa Rica through New Partnership with Gaia Foods -
Hicksville (Long Island), NY (June 8, 2017) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the non-alcohol ready-to-drink (“NARTD”) tea segment in the beverage industry, today announced new partnerships to distribute its beverages in Ecuador through Dinusa S.A. (“Dinusa”) and in Costa Rica through Gaia Foods CRC S.A. (“Gaia Foods”).
Consistent with our strategic focus on Latin America announced in December 2016, Long Island Iced Tea® is now distributed across four countries in Central and South America. Ecuador has an estimated population of over 16 million¹ and has an NARTD tea market that has grown at a 13% CAGR from 2011 to 2016, and projected to reach $119 million by 2021.² Costa Rica has a population of just under 5 million¹ and has an NARTD tea market that has grown at a 10% CAGR from 2011 to 2016, and projected to reach $123 million by 2021.³
Philip Thomas, Chief Executive Officer of the Company, stated, “We are excited to continue our international expansion in Central and South America. These new partnerships with Dinusa and Gaia Foods allow us to enter new geographic markets and continue growing our customer footprint for our flagship Long Island Iced Tea® brand as well as our newly distributed ALO Juice® brand. Both partnerships compliment distribution positions we have already established in Central and South America.”
Long Island Iced Tea® is an NARTD tea that will be available through Dinusa and Gaia Foods in 18oz bottles. ALO Juice® is an NARTD functional beverage that will be available through Dinusa and Gaia Foods in 0.5 liter and 1.5 liter bottles. The Original Long Island Brand™ Lemonade with a splash of tea is an NARTD lemonade that will be available through Gaia Foods in 18oz bottles.
About Dinusa. S.A.
Dinusa is a distribution company based in Quito, Ecuador and reaches over 15,000 independent accounts. It covers the entire country of Ecuador, including the major cities of Quito, Guayaquil and Cuenca. Dinusa services independent accounts as well as all major supermarket chains including Mi Comisariato, Supermaxi, MegaMaxi, Aquí and Santa Maria. Dinusa is owned by Jabonería Wilson, one of the largest detergent manufacturers in Ecuador with distribution also in Perú and Colombia. Jabonería Wilson has proudly been in business for over 70 years. To learn more about Dinusa and Jabonería Wilson, please visit www.jaboneriawilson.com.
About Gaia Foods CRC S.A.
Gaia Foods is dedicated to the import and distribution of good quality products that are important for the Costa Rican market, distributing products for over the past 6 years. It has a wide portfolio of products such as Mamma Chia, Joe Chips, Charles Wells Brewery and Casa Bruja Brewing Co. Gai Foods distribution footprint covers store chains including Wal-Mart, Fresh Market, Automercado, Vindi, Perimercado, Más x Menos and a diversity of other on-premise and off-premise accounts. To learn more Gaia Foods, please visit www.gaiafoodscr.com.
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 LemonadeTM’ 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.
Long Island Iced Tea Corp.
¹ Central Intelligence Agency. The World Factbook. 2017
² Euromonitor International. RTD Tea in Ecuador. February 2017
³ Euromonitor International. RTD Tea in Costa Rica. February 2017; projected market of CRC69.9 billion by 2021