Lincoln (Neb.) - June 13, 1997 - The choice of Generation Next is the choice of the University of Nebraska-Lincoln, officials announced today.
Pepsi has been awarded an exclusive contract to sell or provide its beverage products to UNL through its local franchise bottler, the LinPepCo Partnership, pending approval by the university's board of regents at its June 21 meeting.
This agreement helps forge one of the largest campus alliances of its kind. In exchange for the exclusive right to sell Pepsi products, the university will receive $1 million a year for 12 years. The money will be used for scholarships, enhanced academic and student life programs, diversity commitments, community service and other university initiatives. In addition, Pepsi will donate $100,000 a year for 12 years in accordance with a charitable agreement.
Chancellor James Moeser said the agreement between Pepsi and Nebraska will benefit students significantly.
"These are times when we must strive to do more with less," Moeser said, "a time to maximize our ability to leverage a partnership in the private sector to augment state support. Pepsi's generous offer allows us to make some needed academic and student service enhancements without going back to the taxpayers. It's a great way to help position this university as an outstanding environment for outstanding students."
Moeser said more specific information regarding which programs will be supported by the contract money will be announced this fall.
Melvin W. Jones, vice chancellor for business and finance, said the Pepsi-university alliance will be good for the university.
"Based on my knowledge of other financial packages proposed by the leading soft-drink makers to other institutions, this is by far the biggest ever offered for a campus our size," he said. "This alliance with Pepsi will help the university to compete more effectively for students and faculty as we re-position ourselves to provide higher education in Nebraska for the 21st century."
Pepsi was awarded the contract for several reasons, Jones said.
"We chose Pepsi because of its worldwide reputation and because its product Mountain Dew is very popular among our students," he said. "Pepsi was very responsive to our request for proposal, and we both agree that our students are our most cherished asset."
Pepsi officials are likewise excited by the alliance.
"Our enthusiasm about this alliance is bigger than Nebraska's offensive line," said Brenda Barnes, president and chief executive officer of Pepsi-Cola North America. "UNL is clearly a crown jewel among the nation's state university systems, and it continues to grow in stature in all aspects of student life. This alliance provides us with an important opportunity to connect with our Generation Next consumers in this region."
Under the contract, LinPepCo will own and maintain all vending and fountain equipment, as well as some ice-making and storage machines.
In a separate agreement, Pepsi will donate $11 million to the University of Nebraska Foundation for a quasi-endowment to support more academic and student programs.
Pepsi-Cola Co. is headquartered in Somers, N.Y., and is a division of PepsiCo Inc. The company's brands include Pepsi, Diet Pepsi, Mountain Dew, Lipton Brisk Iced Tea and All Sport.
A celebration to kickoff the alliance between the university and Pepsi is in the works for fall, Moeser said. NOTE TO PRINT EDITORS: A university-Pepsi logo is available electronically with Macintosh and Windows software. To access using Macintosh, Fetch client software: Host: 184.108.40.206 User ID: newsmedia Password: huskers Directory: mediafiles Locate the file you wish to download, and drag it to your desktop. To access using Windows, WS_FTP client software: Host Name: 220.127.116.11 Host Type: Mac Peter Server or autodetect User ID: newsmedia Password: huskers Click "OK" to connect. The "mediafiles" directory appears. Locate and highlight the file you wish to download. Click on the arrow pointing to your local system. NOTE TO BROADCASTERS: Story-related video footage from the University of Nebraska will be available on satellite on June 13 from 1 to 1:15 p.m. EDT and 2:30 to 2:45 p.m. EDT at the following coordinates:
For questions regarding these releases, contact:
(402) 472-8514, Fax: (402) 472-7825