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Beverage Partners Worldwide (BPW)
Coca-Cola and Nestlè refine joint venture agreement
The transaction, which is subject to customary regulatory reviews, is expected to close by April 30, 2007
© IFT.org - 28/03/2007
The Coca-Cola Company and Nestle are refocusing the activities of their Beverage Partners Worldwide (BPW) joint venture. Under the terms of the revised agreement: BPW will focus 100% on the
total tea category and BPW will cease all activities in the United States.
Coca-Cola Company has entered into a Master Sublicense Agreement (MSA) with Nestle for the Nestea and Enviga brands in the United States.
The Coca-Cola Company and Nestle will be able to develop or acquire additional tea brands to compete more aggressively in the U.S. tea segment.
Per the November announcement, the Coca-Cola Company and Nestle will be able to compete in coffee in any country after the closing of the agreement.
All BPW coffee initiatives will revert to Nestle on a market-by-market basis during an orderly transition period ending no later than Dec. 31, 2008.
"A joint venture focused on the total ready-to-drink tea category, excluding the U.S. and Japan, provides an opportunity to optimize value for all stakeholders," said Leslie Novos, CEO of BPW.
The refined agreement enables both companies to independently compete in the fast growing tea categories in the United States. Consistent with the previous agreements, BPW will also refrain
from operations in Japan. The transaction, which is subject to customary regulatory reviews, is expected to close by April 30, 2007.
Beverage Partners Worldwide (BPW) is a 50-50 joint venture held by Nestle and The Coca-Cola Company.
Fonte: www.ift.com
