Nestle (NESN.S) and the Coca-Cola company (KO.N) agreed to dissolve their tea joint project, Beverage Partners Worldwide (BWP) at the beginning of 2018, as it became known from Nestle company announce on Friday.
Established in 2001, BPW offers ready-to-drink tea, in particular Nestea in Canada and Europe.
"The time has come to develop Nestea independently," - said in a statement.
Nestle guarantees to provide Coca-Cola a license to produce and distribute Nestea in Canada, Spain, Portugal, Andorra, Romania, Hungary and Bulgaria. The Nestle Waters division, that manages the brand Nestea in several countries, including the U.S., will also oversee the distribution of drink Nestea in all European countries, not included in the list in the license agreement, according to a statement from Nestle.