Farmingdale (Long Island), NY, Dec. 01, 2017 (GLOBE NEWSWIRE) -- Long Island Iced Tea Corp. (NasdaqCM: LTEA), a growth-oriented company focused on the non-alcoholic ready-to-drink segment in the beverage industry, today announced the appointment of John Carson, Chairman of the Board of merchant bank Intercontinental Beverage Capital Inc., and William Hayde, a Wall Street veteran with over 25 years of experience raising growth capital for companies and co-founder of IBC, to its Board of Directors. On November 27, 2017, Edward Hanson had resigned from the Board. As a result, following these appointments, the Board now consists of six directors, four of whom, including Mr. Carson and Mr. Hayde, are deemed independent directors.
Mr. Carson is the Chairman of IBC and the former Chairman, Chief Executive Officer and President of several leading beverage companies including Marbo, Inc. and Triarc Beverages, both private equity backed corporations. As Chairman of Triarc Beverages (RC Cola), he led the acquisition and integration of Snapple Beverages and expanded business internationally by leading negotiations in China, Japan, Mexico, South America, Russia and Poland. Mr. Carson led the sale of the entire beverage portfolio of Triarc to Cadbury Schweppes, generating a significant return for investors. He is former President of Cadbury Schweppes North America where he led the expansion of the Schweppes brand beyond mixers and into adult soft drinks. Mr. Carson is also a Board Member of the National Soft Drink Association and the Board of Directors of Water Source Inc.
Mr. Hayde has spent over 25 years in the investment banking and securities industry, primarily focused on the CPG sector, and is Executive Vice President and co-founder of IBC, a New York based merchant bank focused on the beverage and CPG industries. He has successfully raised growth and acquisition capital for middle market companies, and facilitated mergers, acquisitions, financial restructurings and divestitures. Through his experience, Mr. Hayde also has extensive knowledge of FINRA, NASDAQ and other regulatory bodies and issues. He is also a managing director at The Interim Opportunity Fund LLC and its advisor, Waterside Capital Advisors, Inc., a newly formed fund focusing transactions with a defined strategy for exit with a heavy emphasis on the consumer markets. He is currently a registered agent for Network 1 Financial Securities.
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 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.