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Wednesday, 14 Dec. 2016
Long Island Iced Tea Corporation has made Alo Juice its first brand acquisition, after agreeing with The Wilnah International to acquire the beverage brand and trademark rights for a purchase price of 5,000 shares of the company’s common stock.
The deal extends Long Island’s existing relationship with Alo Juice; it has been a distributor of the brand since February, and has sold nearly $1 million’s worth of product to date.
The company said that it hoped the acquisition would further enable it to meet growing demand for ready-to-drink, better-for-you beverages; aloe vera juice contains nutrients including vitamins A, C, E and B12, as well as minerals like potassium, zinc, and magnesium. It also provides antioxidants, helps to balance metabolism, and supports normal circulation and blood pressure.
Alo juice specifically sources its aloe plants from harvests in Thailand, from where they are exported to South Korea and processed in a ‘unique’ whole-leaf manner to ensure that the nutritional benefits are maintained from the plant through to the bottling process.
Alo juice is packed in 0.5 litre and 1.5 litre bottles, with flavours including original, mango, pomegranate, pineapple and raspberry.
The closing of the transaction is subject to customary conditions, and is expected to occur in the first quarter of 2017.
Philip Thomas, chief executive officer of Long Island Iced Tea Corp, said: “We are continuing to see a shift towards healthier beverages and Alo Juice offers a product which is aligned with this movement. Alo Juice is a quality brand. We are excited that it will mark the first brand acquisition in our five-year history.”