Beverage Partners Worldwide (BPW) is the name of the joint venture partnership between The Coca-Cola Company and Nestlé, created in 2001 as the successor to Coca-Cola and Nestle Refreshments (CCNR) founded in 1991. Coca-Cola and Nestlé hold equal parts in the joint venture.[1]
In late 2006, the two companies announced that their joint venture is focussed on producing and selling drinks based on black tea and green tea like Nestea and Enviga.[1]
The iced tea brand, Nestea, while owned by Nestle, is controlled in most global markets by BPW. BPW operates in more than 40 countries, marketing Nestea as well as other ready-to-drink chilled teas. Nestea trails well behind competitors, notably Lipton and Snapple, in most developed markets. In 2007 BPW lost the right to managed RTD flavoured milks and chilled coffees, including several Nescafe spin-offs. Coca-Cola subsequently agreed a separate joint venture with Illy Coffee to market RTD coffees.[2]