Arizona iced tea cofounder does not expect a price hike 'in the foreseeable future'
Fans of Arizona iced tea can rest easy knowing the price of the company’s 23-ounce cans won’t cost more than 99 cents anytime soon.
"I don’t know about never, but not in the foreseeable future," Arizona Beverages co-founder Don Vultaggio told "Today" of raising the price. "We’re going to fight as hard as we can for consumers because consumers are my friend."
His comments come as American consumers have been battered by inflation.
In the "Today" interview, Vultaggio said not raising the price of the 23-ounce cans was "maybe … my little way to give back."
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"We’re successful. We’re debt-free. We own everything," he told the outlet. "Why have people who are having a hard time paying their rent … pay more for our drink?"
Vultaggio has doubled down on maintaining the 99-cent price before, including during a 2022 appearance on "Cavuto: Coast to Coast."
The 23-ounce Arizona canned drinks have cost 99 cents since the early '90s.
HOW IT STARTED… HOW IT'S GOING: FAST-FOOD PRICES SOAR UNDER BIDEN
The co-founder said the beverage company has been able to maintain that price due to several factors, including production speed, shipping practices and "thinner" cans, according to "Today."
Arizona produces its cans and bottles in "multiple locations" in the U.S. and Canada, its website says.
Its portfolio of drinks includes well over 100 flavors, like Green Tea with Ginseng and Arnold Palmer, and more recent products, like its alcoholic offerings.
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The company said in a social media post last year that Vultaggio "tastes every potential new drink himself."