Long Island Iced Tea Corp. (NASDAQ: LTEA), a growth-oriented company focused on the ready-to-drink ("RTD") tea segment in the beverage industry, today announced that it has reached an agreement to acquire the ALO Juice® beverage brand and trademark rights from The Wilnah International, LLC ("Wilnah") for a purchase price of 5,000 shares of the Company's common stock. The closing of the transaction is subject to customary conditions, and is expected to occur in the first quarter of 2017. Read the full LTEA Press Release and more news at: http://marketnewsupdates.com/news/ltea.html
The Company has acted as a distributor of ALO Juice® since February 2016 and has sold nearly $1 million of ALO Juice® to date. According to Chicago-based market research SPINS LLC this segment of the beverage market is projected to continue to grow worldwide for the foreseeable future with the total U.S. market having grown 11% in the past year to $146 million. The Company believes the acquisition will further enable it to meet growing consumer demand for better-for-you beverages. Philip Thomas, Chief Executive Officer of the Company, stated, "We are continuing to see a shift towards healthier beverages and ALO Juice® offers a product which is aligned with this movement."
Mr. Thomas further commented, "ALO Juice® is a terrific brand. We are excited that it will mark the first brand acquisition in our five-year history. We expect this acquisition to provide our Company with the ability to capitalize on the growth in the better-for-you beverage category, both in the U.S. and international markets, alongside our flagship Long Island Iced Tea brand®."
For a complete insight into LTEA operations go to this free, independent report: http://investmentresearchreport.com/LTEA/?=fn Source: ALG Financial
In other Beverage developments and happenings in the market:
Dr Pepper Snapple Group, Inc. (NYSE: DPS) recently announced that it has reached an agreement to acquire Bai Brands, LLC ("Bai" or the "Company"), and its complete portfolio of high-growth premium antioxidant infused beverages. The cash purchase price of $1.7 billion includes a tax benefit of approximately $400 million on a net present value basis and will be financed through new unsecured notes and short term commercial paper. We expect to maintain our strong investment grade credit profile and have no plans to change our existing shareholder dividends and share repurchase distributions.
Monster Beverage (NASDAQ: MNST) had a difficult third quarter, but Cowen says it's not time to give up on the stock. Analyst Vivien Azer reiterated an Outperform rating on Monster Wednesday, although she did slightly lower her target price, to $52 from $54, citing currency headwinds. She writes that recent Nielsen data has been encouraging, as Monster has notched two straight months of accelerating growth. http://blogs.barrons.com/stockstowatchtoday/2016/12/07/monster-beverage-hope-for-2017/?mod=yahoobarrons&ru=yahoo&yptr=yahoo
In an article published by TheStreet.com, PepsiCo (NYSE: PEP) wants to deliver a meal to you, the lazy urban millennial. The soda and snack giant said Tuesday that it has hooked up with online meal kit marketplace Chef'd to deliver three Quaker Oats-branded meals, all featuring the brand's trademark oats as the star. People who order the Quaker Oats-inspired meals receive all the necessary, pre-portioned ingredients and step-by-step instructions for making the meal. The meal kits, which will cost $10 for a serving of two, will also include a mason jar as well as additional oats-inspired recipe cards.
The Coca-Cola Company (NYSE: KO) opened a new bottling plant in Phnom Penh, Cambodia. The investment, valued at $100 million, is part of Coca-Cola's plan to expand its production facility in the Southeast Asian country by 2018. The plant, situated in a special economic zone, will provide employment opportunity to 817 people. Notably, it will also be powered with solar energy.
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