UNILEVER's Lipton tea brands and Pepsi's soft-drink bottling skills are combining in a joint venture selling primarily Lipton Iced Tea across Europe, the Middle East and Asia.
The two have been partners in North America for 10 years and Lipton holds just over 10% of the ready-to-drink tea market. Lipton is the third-largest beverage brand behind Coca-Cola and Pepsi.