Vevey and Atlanta, 2 November 2006 - 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.
This agreement means Nestlé and The Coca-Cola Company will independently
develop, produce and market ready-to-drink coffee and non-black tea based
beverages. Both companies recognize the significant potential of these rapidly
growing segments and will expand their offerings in these categories by
identifying innovative new products and creating a broader choice for
consumers.
Beverage Partners Worldwide (BPW), a fifty-fifty joint venture held by Nestlé
and The Coca-Cola Company, was created in 2001 following a period of 10 years
during which Nestlé and The Coca-Cola Company cooperated in a joint venture
called Coca-Cola and Nestlé Refreshments (CCNR).
- Contacts:
-
Media: Francois-Xavier Perroud, Tel.: +41-21-924 2596
- Investors: Roddy Child-Villiers, Tel.: +41-21-924 3622