US drinks giant, the Coca-Cola Company and Swiss group Nestle S.A. announced on Tuesday the further development of their existing joint venture partnership, Coca-Cola and Nestle Refreshments (CCNR). The venture will be renamed Beverage Partners Worldwide (BPW) and will attempt to tap into the growth potential of emerging beverage segments, in particultar ready-to-drink coffee, teas and beverages with a healthy positioning. The CCNR, formed in 1991, currently operates in 24 countries and will serve as a foundation from which Beverage Partners Worldwide hope to expand into new beverage segments. The BPW aims to enter new markets, excluding Japan, with both novel and existing products. The new venture is subject to regulatory approval.