ATLANTA and VEVEY, Switzerland, Jan. 6, 2012 - The Coca‑Cola Company and Nestlé S.A. today announced that they 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, The Coca‑Cola Company will enter into a license agreement with Nestlé 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 2012, subject to any regulatory approval. In addition, the current NESTEA license granted by Nestlé to The Coca‑Cola Company in the United States will terminate at the end of 2012.
Over the past 10 years, BPW has delivered consistent growth to its parent companies and has expanded the NESTEA brand across Europe, Canada and other markets. 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. Both parent companies will be free to independently explore and maximize opportunities for growth in the ready-to-drink tea category in other markets.
The Coca‑Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca‑Cola, the world's most valuable brand, our Company's portfolio features 15 billion-dollar brands including Diet Coke®, Fanta®, Sprite®, Coca‑Cola® Zero™, vitaminwater®, Powerade®, Minute Maid®, Simply™, Georgia™ and Del Valle®. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit www.coca-colacompany.com/, follow us on Twitter at www.twitter.com/CocaColaCo or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company/.