HICKSVILLE, NY–(Marketwired – Aug 23, 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 to supply its beverages to Menards, Inc. (“Menards”), the third largest home improvement chain in the U.S. with more than 280 locations.
Philip Thomas, Chief Executive Officer of the Company, stated, “We are committed to building our brand and our distribution in the Midwest, and our partnership with Menards is a major achievement in this effort. As the third largest home improvement store in the nation we believe their support further confirms our concept of quality ingredients at an affordable price, thereby making Long Island Iced Tea® an attractive partner across many geographies. We plan to continue our strategy to progress from distributors to regional chains to national chains to further expand our presence.”
This is the Company’s largest partnership to date in the Midwest, resulting in Long Island Iced Tea® now being available in over 280 Menards location in gallon bottles, with flavors including Lemon, Peach, Mango, Unsweetened, Southern Sweet Tea, & Green Tea & Honey.
Menards’ strength and success can be seen in its well-stocked and maintained stores, the lowest prices in town, and the way guests are always treated like family in a local, hometown hardware store atmosphere. Dedicated to quality and service, Menards carries a complete selection of high-quality, name brand merchandise, tools, materials and supplies for all home improvement needs.
About Menards, Inc.
A family-owned company started in 1958, Menards is headquartered in Eau Claire, Wisconsin and has more than 280 home improvement stores located in Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin and Wyoming. Today, Menards is known throughout the home improvement industry as the low price leader.
Most Menards stores also carry name brand appliances, pet products, lawn and garden supplies, and even groceries for a one-stop shopping experience. Not only does Menards offer quality products at low prices, it also provides a valuable resource for the entire community. Menards creates employment opportunities and economic growth while fulfilling the various home improvement needs of local homeowners, tenants, and business owners. For more information, visit Menards’ website at www.menards.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 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.