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Coke, Nestea End Tea Partnership in U.S.

The Coca-Cola Co. and Nestlé will dissolve their tea business partnership in the United States by the end of 2012, the companies have said in a joint statement.

The two said they instead plan to focus their ready-to-drink tea joint venture, Beverage Partners Worldwide (BPW), on Europe and Canada. In Taiwan and Hong Kong, Atlanta-based Coca-Cola will ink a license agreement with Nestlé for the Nestea brand. In all other territories, BPW will be phased out, reports the Atlanta Business Chronicle.

“Both partners believe a concentrated focus on Europe and Canada will accelerate the growth and bolster the market presence of BPW where the joint venture is most effective,” the statement says.

 

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