Long Island Iced Tea Corp. Continues International Expansion, Begins Asia/Pacific Focus by Announcing Distribution Partnership for New Zealand and the Pacific Islands
HICKSVILLE, NY--(Marketwired - Jul 19, 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 a new partnership to distribute its beverages in New Zealand, Polynesia, Micronesia and Melanesia1 through Stellare New Zealand Limited ("Stellare"), part of the Stellare Group.
New Zealand has an estimated population of 4.5 million people² and has a NARTD tea market that has grown at a 3.5% CAGR from 2011 to 2016, and projected to reach US$7.4 million by 2021.3 Long Island Iced Tea Corp. has been the registered owner of the 'Long Island Brand' trademark in New Zealand since December 12, 2014.
Philip Thomas, Chief Executive Officer of the Company, stated, "We are excited to announce our international expansion into the Asia Pacific region. This region represents new markets for the Company on the doorstep of Asia, which represents 75% of global NARTD tea volume.4 Our new partnership with Stellare allows 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."
The founder and CEO of Stellare, Don Claasen, stated, "We are very happy to be partnering with Long Island Iced Tea Corp. as their iconic brand and company is a welcomed acquisition to our growing portfolio. The Long Island portfolio of brands taps into a growing area in the 'better-for-you' segment that consumers are searching for."
Long Island Iced Tea® is an NARTD tea that will be available through Stellare in 500ml bottles. ALO Juice® is an NARTD functional beverage that will be available through Stellare in 500ml and 1.5L bottles. Stellare will commence sales and distribution in the second half of 2017.
About Stellare New Zealand Limited
Stellare New Zealand Limited is an Auckland, New Zealand based sales, marketing and
distribution company with staff servicing New Zealand, Australia, and Pacific Islands. Stellare sources the finest dairy, meat, beverages, and honey products to meet discerning customer and
consumer needs. The company operates in Grocery, Banner Groups, Wholesalers and the Horeca trade. Stellare also operates Stellare Merchants (NZ) Limited in the licenced off-trade and on-premise
with a variety of alcoholic and non-alcoholic brands.