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Saturday, Jun 3, 2023

Modified Marketing Agreement for Nestle, Coke

Nestle and Coca-Cola Co. have reached an agreement to modify a beverage joint venture the two companies had established previously. The new agreement for the joint venture, Beverage Partners Worldwide, excludes the ready-to-drink tea category in the U.S. and Japan. Nestle has licensed its Nestea and Enviga brands to the Coca-Cola Co. in the U.S. The modification leaves both Nestle, which is based in Vevey, Switzerland with U.S. headquarters in Glendale, and Coca-Cola, based in Atlanta, free to develop or acquire additional tea brands in the U.S. and Japanese markets, the companies said. The joint venture previously agreed not to include coffee in the Beverage Partners Worldwide venture, allowing Nestle to compete in the coffee beverage arena and non-tea functional beverage categories worldwide. Beverage Partners Worldwide was created in 2001 as a fifty-fifty joint venture held by Nestle and Coca Cola.

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