Nov 7, 2013 at 11:16 am
ST. CLOUD (KNSI) - St. Cloud State University has officially finalized a contract with Viking Coca-Cola for campus-wide pouring rights.
The 10-year agreement means Viking will provide all soft drinks, bottled water and juice in all SCSU facilities and vending machines.
SCSU says the deal will also provide financial incentives for the university, including funding of $250,000 toward various campus initiatives including applied learning, student life and Husky athletics.
Viking Coca-Cola is also expected to contribute more than $2 million in funding over the next 10 years - including nearly $400,000 in capital investments, over $700,000 for marketing, and over $500,000 for a rebate incentive program for products sold.
Additionally, the contract includes money back to the university based on sales of Glaceau products, the company that produces Vitamin Water and Smartwater. SCSU will also be advertised on Glaceau sinage at local Coborn's and Cashwise stores.
The bid for an exclusive beverage sponsor was opened for proposals in May.
The Viking contract replaces the former blended-rights contract held previously with multiple companies, including Bernick's Beverages and Vending, offering Pepsi products.
Viking Coca-Cola is headquartered in St. Cloud.
Temp: 17°F (-8°C)
Wind: Calm N