US based soft drinks firm Long Island Iced Tea has announced that it to purchase the ALO Juice brand from The Wilnah International for 5,000 shares of the company’s common stock.
The acquisition, which is expected to close at the beginning of 2017, will allow for Long Island Ice Tea to expand in the southeast of the United States, the firm said in a statement.
ALO Juice sells a range of drinks made from aloe vera which is imported from Korea. The drinks are sold in bottles of 500ml and 1.5l and come in flavours such as original, mango, pomegranate, pineapple and raspberry.
Long Island Iced Tea CEO Philip Thomas 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”.
New York based Long Island Iced Tea sells RTD tea beverages around the United States, primarily on the east coast.
Source: Long Island Ice Tea (via MarketWired)