Thursday, November 7, 2013
St. Cloud State University and Viking Coca-Cola, owned by the Faber family, have reached an exclusive agreement for pouring rights at St. Cloud State, which further solidifies the university’s long-standing relationship with the local bottling company.
The 10-year agreement will feature monetary benefits for the university including initiative funding support totaling $250,000 for applied learning and student life, community, sustainability, health and active lifestyles, brand marketing and Husky Athletics. Viking Coca-Cola will contribute more than $2 million in funding over the next 10 years through initiatives, rebate incentives, capital investment, marketing and the Glacéau for SCSU program.
Coca-Cola will be the exclusive vendor for all bottled water, juice and carbonated beverages in St. Cloud State’s facilities and vending machines. St. Cloud State previously had a blended pouring rights agreements with multiple distributors. The bid for an exclusive beverage sponsorship and pouring rights was open for proposals during May.
“Expanding our partnership to an exclusive agreement allows us to garner benefits while still receiving excellent service from a local vendor,” said Rick Duffett, interim vice president for finance and administration at St. Cloud State. “St. Cloud State selected Viking Coca-Cola’s proposal because it was the best option for students and the university.”
Besides the initiative funding, $374,510 in capital investments for equipment, $734,500 for marketing and a $543,600 rebate incentive program for products sold on campus, Viking Coca-Cola has created a funding opportunity based on sales of Glacéau products, an enhanced waters subsidiary of Coca-Cola, exclusively for St. Cloud State. Glacéau for SCSU offers funding back to the university on every case of Vitamin Water and Smartwater sold at local Coborn’s and Cashwise stores. St. Cloud State will be marketed on all Vitamin Water and Smartwater displays at each location.
“We believe this partnership with SCSU is in the best interest of the university, community and Viking Coca-Cola,” said Michael Faber, CEO of Viking Coca-Cola. “We are profusely supportive of the vibrant future that the aligned interests will generate during and beyond the 10-year term. The team at Viking Coca-Cola and my family are honored to have been selected to serve St. Cloud State.”
Outside of product sales, the university and Viking Coca-Cola’s relationship also includes numerous internship and job creation opportunities that have been established over the years. St. Cloud State graduates serve in sales and marketing positions, as well as management, vice president and leadership for the bottling company. Viking Coca-Cola also produces approximately 85 percent of the soft drinks they bottle locally at their St. Cloud production facility. Local production and corporate headquarters in St. Cloud creates career opportunities for St. Cloud State's graduates.
David Yantes, Viking Coca-Cola's vice president of sales and marketing, states: "As a St. Cloud State graduate, I am very excited about how Viking Coke can help St. Cloud State achieve great things on campus and in the community."
St. Cloud State University