Procter & Gamble has sealed a 10-year deal with the International Olympic Committee to sponsor the next five sets of games.

The Pringles maker called the tie-up “the most far-reaching partnership” between a company and the movement.

The arrangement covers the London Olympics in 2012 and will include two more complete cycles, including the 2014 Winter Games in Sochi, Russia, and the 2016 summer event in Rio de Janeiro.

P&G will also be involved with Youth Olympic Games, including the 2010 jamboree in Singapore that begins next month.

The deal, announced today by P&G global marketing chief Marc Pritchard, means P&G joins 10 other global sponsors including Coca-Cola and McDonald's.

“This partnership is a natural fit because it unites two similar purposes: the IOC’s purpose to improve life through sport and our purpose to touch and improve lives, now and for generations to come,” the company said in a statement.

“It is an opportunity to grow our business in virtually every part of the world, to strengthen the reputation of P&G and our brands, and to touch and improve more consumers’ lives in more parts of the world.”

P&G claimed its ongoing partnership with the US Olympic team had generated sales worth almost $100m for the company.

Read more
P&G makes Pringles flavours just for Tesco (29 May 2010)
MP calls on Olympics to reject P&G’s cash (12 June 2010)
Sainsbury’s to sponsor 2012 Paralympics (4 May 2010)