Coca-Cola grabbed more of the Olympics sponsorship pie before the 2022 Winter Games in China. In the U.S., its expanded involvement is easy to miss.
Coca-Cola in 2019 struck a deal with China Mengniu Dairy Co. to share the designation of official nonalcoholic beverage sponsors of the Olympic Games through 2032. Chief Executive James Quincey hailed the marriage as a “profound partnership” as he stood beside the Chinese company’s CEO at a news conference in Switzerland.
The Beijing Games kicking off Friday mark the first Olympiad in which the joint sponsorship takes effect. The 12-year pact links Coca-Cola to a Chinese business whose largest shareholder is a state-owned food giant. The deal cost the two companies more than $2 billion combined, including rights fees, marketing and other commitments, according to people familiar with the matter.
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