EUROPE: European Commission clears Nestlé, Coke iced-tea tie
The European Commission formally approved reforms to a joint venture linking the Coca-Cola Co. and Nestlé SA on Thursday that will allow the alliance to expand its production and distribution in the growing iced-tea sector. The expanded alliance between Nestlé and Coke, announced in January, allows the new company, Beverage Partners Worldwide or BPW (formerly the Coca-Cola Nestlé Refreshment Company), to increase its operations from 24 to 40 countries as well as adding new products to its distribution network.
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