The China Post news staff
TAIPEI, Taiwan — AGV group conducted a press conference at Shangri-La Far Eastern Hotel on Wednesday to announce its license agreement with Nestle for Nestea ready-to-drink (RTD) business in Taiwan.
The license agreement will officially authorize AGV to manufacture, market, distribute and sell Nestea RTD products. AGV also announced the plan to relaunch Nestea with strong marketing and R&D investment in the first half of 2016. Taiwan consumers will soon be able to buy Nestea on the market again, said Nestle. AGV group has grown tremendously and has invested in the RTD market in recent years. The successful launch of a red bean drink and a “Job’s tears” drink created a new oriental trend in the health beverage market this year. AGV already has a good share of the health beverages market and the Nestea business will complete AGV’s beverage portfolio in the tea market, the company stated.
In addition to the successful new launches of health drinks, the AGV Food & Health Institute also won many international awards for beverage innovation and renovation. Strong manufacturing know-how, production capacity, product development and route to market were the key success factors in AGV winning the collaboration with Nestle. It is believed the partnership will help both AGV and Nestle achieve a new milestone in the Taiwan RTD tea market, the company said.