IOC Signs First-Ever Joint TOP Partnership Mega-Deal

The International Olympic Committee (IOC), The Coca-Cola Company and China Mengniu Dairy Company Ltd today announced that they have signed the first-ever Joint TOP Partnership Agreement.

The new deal is worth a combined $3 billion, according to the Financial Times, making it one of the biggest ever corporate endorsements in sport.

The partnership combines the non-alcoholic beverage and the dairy categories into a new joint category and brings Chinese dairy company Mengniu into the family of Worldwide TOP Partners.

The new joint agreement has a 12-year term running through to the Olympic Games 2032. The agreement includes unprecedented investment in traditional and digital media to promote the Olympic values globally.

That means six Summer and Winter Games.

This agreement extends The Coca-Cola Company’s association with the Olympic Movement to a historic 104-year-long relationship.  The Coca-Cola Company is the longest continuous Partner of the Olympic Games.

Mengniu becomes the first Chinese fast-moving consumer goods company to become a TOP Partner. The Joint TOP partnership supports Mengniu’s ambitious international growth plans, with the company aiming to become one of the top dairy producers in the world by 2025.

IOC President Thomas Bach said: “This long-term agreement is another demonstration of the relevance and stability of the Olympic Games in these times of uncertainty. Having our longest-standing partner, Coca-Cola, an iconic American brand, together with a young Chinese company, Mengniu, joining hands under the roof of our Worldwide TOP Programme is a great example of the unifying power of the Olympic spirit. This partnership will give another dimension to the promotion of the Olympic values around the world.”

James Quincey, Chairman and CEO of The Coca-Cola Company, said: “We are honoured and privileged to be a part of the Olympic Movement that makes it possible for athletes from all over the world to come together to represent their nations, pursue their dreams and be a part of history. A lot has changed since we sold the first Coca-Cola at an Olympic event in 1928. With a fresh approach to our business and to our sponsorship, we are proud to join with Mengniu to promote and celebrate future Olympic Games.”

Jeffrey Lu, CEO and Executive Director of Mengniu, said: “Membership of the TOP Programme will act as a catalyst for Mengniu to grow around the world. This is a vital step in our international strategy, and we are honoured to have the opportunity to build the positive reputation of Chinese food and beverage brands among consumers globally. As a Worldwide TOP Partner, we look forward to using the unrivalled platform of the Olympic Games to promote health and joy to Olympians and fans alike.”

The photo above shows (from left): James Quincy, President Bach and Jeffrey Lu.