Nestle and Coca-Cola Call It Quits On Joint Venture ‘Beverage Partners Worldwide’
This Friday, Nestle and Coca-Cola just decided to end their 17 year long Nestea Iced Tea joint venture namely the Beverage Partners Worldwide (BPW) which took its course during 2001 and will function until the end of this year. In an ever changing, fast moving, competitive world BPW bumped heads with Lipton Iced Tea more often than not. Lipton Iced Tea which is sold by a venture between Unilever and Pepsi Co is famous for its variety of flavors of ice tea and its portability and packaging. Following this up Nestea hit reinvention mode last month wherein their new product was made sans corn syrup, artificial colors, artificial flavors and GMO ingredients to appeal to a rising new population of health-conscious people.
Following this up Nestea hit reinvention mode last month wherein their new product was made sans corn syrup, artificial colors, artificial flavors and GMO ingredients to appeal to a rising new population of health-conscious people.
“The ready-to-drink tea market has evolved, and Nestle believes the time is right to develop Nestea independently,” the company said on Friday, announcing the end of this venture scaled back to just that found itself reducing itself to Europe and Canada in 2012 itself.
Coca-Cola licensed by Nestle will be allowed to manufacture and distribute Nestea in Canada, Spain, Portugal, Andorra, Romania, Hungary and Bulgaria. The Nestle Waters division, which is an entity that manages the Nestea brand in the United States of America, will cover the European countries as well without the constraints of a licensing agreement.