Nestlé, Coca-Cola realign JV activities to black tea

Nestlé and the Coca-Cola Company today an­nounced both companies have agreed to refocus the activities of their Beverage Partners Worldwide (BPW) joint venture on ready-to-drink 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 US and scheduled for rollout in Europe in 2007, will also be marketed through the existing joint venture.