June 12th, 2011

Colorado State Univ reaches sweeping deal with Coca Cola

Denver Business Journal

Colorado State University said Thursday it has reached a 10-year “strategic partnership” deal with a unit of the Coca-Cola Co. (NYSE: KO) that will mean funding of scholarships, internships, athletic sponsorships and other opportunities.

The deal is with Coca-Cola Refreshments (CCR), which bottles and distributes Coca-Cola’s soft drinks, bottled water and juices in the U.S. and Canada.

Under the arrangement, CCR will operate 175 vending machines on the Fort Collins campus that will accept either “RamCash” campus debit cards or credit cards.

The deal means a commitment of about $5 million from Coca-Cola for scholarships, internships and support of academic programs, “but the value of the overall sponsorship is probably worth twice that,” CSU spokeswoman Emily Narvaes Wilmsen said.

“We are pleased to enter this long-term partnership with Coca-Cola. Extending well beyond typical beverage contracts, the originality and comprehensiveness of this agreement make it different from any beverage partnership in the country,” Amy Parsons, CSU’s vice president for operations, said in a statement (reproduced below).

In January, CSU announced a partnership with office-supply retailer OfficeMax that the university said would result in an average savings to the university of 14 percent on hundreds of centrally-ordered supply items. In turn, CSU named OfficeMax its official office products supplier.

Read more: http://www.bizjournals.com/denver/news/2011/06/02/csu-reaches-sweeping-deal-with.html?page=all

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