UCLA has consolidated various beverage contacts and sponsorship agreements and entered into a 10-year contract with Coca-Cola Co., resulting in increased revenues to the university.
The contract grants Coke campus-wide "pouring rights," including fountain dispensers in dining halls, cafeterias and restaurants. The agreement also covers UCLA Athletics and campus vending machines.
Previously, various university entities were under separate contracts with both Coca-Cola and PepsiCo.
The new campus-wide contract calls for Coke to pay $15.4 million to the university over the 10-year term. It also calls for Coke to provide favorable pricing for beverages served in the residence halls.
Revenue from the contract will be used to support various campus programs, including approximately $3 million for student scholarships.
"By negotiating as a single purchasing entity, the university arrived at more favorable contract terms that directly benefit the campus," said UCLA Administrative Vice Chancellor Jack Powazek.
The contract was executed on Oct. 15. Campus officials said fountain dispensers and vending machines will be converted to Coke products over the next several weeks.