Nestlé and The Coca-Cola Company have agreed to dissolve their Beverage Partners Worldwide joint venture. This fifty-fifty partnership offers tea, particularly “Nestea,” in Canada and Europe. However, Nestlé said, with changes in the RTD market, it is the right time to develop Nestea on their own. In place since 2001, the partnership will end at the start of 2018. Identifying the move towards healthy hydration in the overall RTD category and a potential $4.5 billion RTD tea sector, Nestlé has unveiled its revamped Nestea products in the US which includes a brand identity overhaul, a launch of reformulations and a premium product line. Nestlé is granting Coca-Cola the license to manufacture and distribute Nestea in Canada, Spain, Portugal, Andorra, Romania, Hungary and Bulgaria, but it will no longer produce or distribute Nestea in the other countries that are currently part of the joint venture.