What Happens in Long Island, Stays on Long Island!
Long Island Iced Tea to Stay on the Island, Says Incoming Co-CEO (Newsday)
William Hayde, executive vice president and co-founder of InterContinental Beverage Capital, said the business being sold by Long Blockchain Corp. will remain in Farmingdale.
By Ken Schachter[email protected] @kschach Updated March 11, 2019 4:48 PMP
The Long Island Iced Tea business being sold by Long Blockchain Corp. will remain on Long Island, the unit’s incoming co-chief executive said.
William Hayde, executive vice president and co-founder of InterContinental Beverage Capital Inc., a merchant bank that serves the beverage industry, will share the CEO job with John Carson, chairman of InterContinental.
In an interview Friday, Hayde said the company will stay put in Farmingdale.
In a separate interview, Andy Shape, CEO of Long Blockchain, said the sale will close once it clears regulatory approval. He said there are no plans to move Long Blockchain off Long Island either.
Hayde said he, Carson and Tom Cardella — who will become chairman of the board of Long Island Brand Beverages LLC, which does business as Long Island Iced Tea — have been working for months behind the scenes to stabilize the beverage business.
Cardella is a former executive at MillerCoors, a majority-owned unit of Denver beer giant Molson Coors Brewing Co.
In January, Long Blockchain announced a tentative deal to sell the iced tea business to a Vancouver investment company, ECC Ventures 2 Corp., and replace ECC’s listing on a tier of the Toronto Stock Exchange.
