January 6/Vevey, Switzerland, and Atlanta/Press Release (Nestle and Coca-Cola) -- Nestlé S.A. and The Coca-Cola Company 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.