Penn State Announces Intent To Extend Pepsi Contract Through 2033
Better luck next time, Coke.
Penn State announced its intent to offer Pepsi a new contract Wednesday, maintaining the company’s exclusivity as the on-campus soft drink provider. The planned deal is expected to last through 2033, though terms have not yet been officially agreed upon.
As part of the deal, Pepsi will provide financial support toward “student initiatives and strategic priorities, including scholarships, student projects, research, educational programs and sustainability goals,” according to the university’s release. Previous contributions from Pepsi have aided efforts to construct the Bryce Jordan Center and the HUB-Robeson Center, among others.
In August 2022, a spokesperson for Penn State indicated the university was reentering the market for a new soft drink contract, in pursuit of “sound business practice.” A Coca-Cola truck was spotted outside Beaver Stadium in February, as Penn State continued evaluating options.
During the negotiations, Pepsi separated itself as the lead candidate in part due to its diversified product portfolio. “[Pepsi] included 400 more product offerings than the other competitor,” read Penn State’s release.
Pepsi has possessed on-campus pouring rights since initially inking a deal with Penn State in 1992.
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