VEVEY, Switzerland and ATLANTA, Nov. 3 /Xinhua-PRNewswire/ -- The Coca-
Cola Company and Nestle today announced both companies have agreed to refocus
the activities of their Beverage Partners Worldwide (BPW) joint venture on
black tea beverages. The transaction, which is subject to certain regulatory
approvals, is expected to close early 2007.
Both partners believe a concentrated focus on black tea beverages by the
joint venture throughout its territory will accelerate the growth and bolster
the market presence of BPW. The green tea-based functional drink Enviga,
recently launched in the U.S. and scheduled for rollout in Europe in 2007,
will also be marketed through the existing joint venture.
This agreement means The Coca-Cola Company and Nestle will independently
develop, produce and market ready-to-drink coffee and non-black tea based
beverages. Both companies recognize the significant potential of these
rapidly growing segments and will expand their offerings in these categories
by identifying innovative new products and creating a broader choice for
consumers.
Beverage Partners Worldwide (BPW), a fifty-fifty joint venture held by
Nestle and The Coca-Cola Company, was created in 2001, following a period of
10 years during which Nestle and The Coca-Cola Company cooperated in a joint
venture called Coca-Cola and Nestle Refreshments (CCNR).
