Published 09 January 2012
Nestl? and Coca-Cola have agreed to focus the geographic scope of their ready-to-drink tea joint venture, Beverage Partners Worldwide (BPW), on Europe and Canada.
In Taiwan and Hong Kong, Coca-Cola will enter into a license agreement with Nestl? for the Nestea brand.
In all other territories, the joint venture will be phased out in a transition to be completed by the end of this year subject to any regulatory approval. The current Nestea license granted by Nestl? to Coca-Cola in the US will terminate at the end of this year.
Over the past 10 years, BPW has expanded the Nestea brand across Europe, Canada and other markets.
Both parent companies will be free to independently explore and maximize opportunities for growth in the ready-to-drink tea category in other markets.
BPW, a 50-50 partnership, was created in 2001, following a period of 10 years during which Nestl? and Coca-Cola cooperated in a joint venture called Coca-Cola and Nestl? Refreshments.
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