IOC: Coca-Cola (beverages) and Mengniu (dairy products) become Joint Top Partners until 2032

The Coca-Cola Company, a US beverage manufacturer, and Mengniu Group, a Chinese dairy producer, have become "Joint Top Partners" of the International Olympic Committee for 12 years until 2032, on 24/06/2019. "The partnership combines the non-alcoholic beverage and the dairy categories into a new joint category," said the IOC. The combined value of the partnership with the two groups will be $3bn (€2.6bn).

"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. The Coca-Cola Company has had a presence at the Olympic Games since the 1928 Games in Amsterdam. With its current agreement with the IOC ending in 2020," continued the IOC, adding that Mengniu is now China's second largest partner after the Chinese e-commerce group Alibaba, committed until 2028.

"The current Beijing 2022 domestic partner's (Yili, dairy manufacturer) exclusive rights in its designated category in the Chinese market will not be affected. The Joint TOP agreement…