Nestlé and Coca Cola contain Nestea iced tea agreement

Nestlé and Coca-Cola agreed to terminate your joint venture of Nestea iced tea after 16 years and pursue separate strategies on the market of bottled drinks, which undergoes rapid change.
The companies formed the Beverage Partners Worldwide in 2001 to sell the Nestea worldwide, but the brand has faced fierce competition from the Lipton iced tea, which is sold by a joint venture between Unilever and PepsiCo.
Consumers are also moving away from sweetened bottled drinks in turning to the water because of concerns about health and the environment.
Nestle announced a renewal of the Nestea brand last month, changing your formula and packaging.
The new Nestea fruit flavoured drinks are made with sugar and Stevia and have no corn syrup, artificial colors and flavors, or GMO ingredients (genetically modified organisms).
"The ready-to-drink tea market has evolved, and Nestlé believes the time is right to develop the Nestea regardless," the company said on Friday, announcing the end of the project.
Nestlé said on Friday (3/3) that Coca-Cola will keep a license to make and sell the Nestea in Canada, Spain, Portugal, Andorra, Romania, Hungary and Bulgaria.
Nestle Waters Division, which manages the brand in various countries, including the United States, also will manage the Nestea in European countries not affected by licensing agreements with Coca-Cola, said.