US: Post strikes US cycling sponsorship deal
Post's Grape-Nuts brand will sponsor the US cycling team
Post Foods, the third-largest ready-to-eat cereal maker in the US, has agreed a deal for its Grape-Nuts brand to sponsor USA Cycling, the sport's governing body in the country.
The company, which describes Grape-Nuts as a "heart-healthy cereal, power-packed with fibre and whole grains", said the deal would allow it to share the "nutritional values" of the cereal with athletes and cyclists.
New packaging will highlight the sponsorship. The Grape-Nuts logo will also feature on the jerseys of USA Cycling team members at national championships, including the World Championships. No mention was made of the 2012 Olympic Games in London this summer. Officials at Ralcorp did not respond to requests for comment.
Brand manager Daniel Lieberman said: "Grape-Nuts powers active lifestyles through whole grains, fiber and nutrients, and we are excited to partner with such a world-class, active organization as USA Cycling." No financial details of the deal were disclosed.
Post Foods is later this month scheduled to become Post Holdings when owner Ralcorp Holdings spins off its branded cereal operations. Post Holdings will be listed in the US and, before Christmas, the company outlined to investors how it planned to grow. Post's sales have fallen and its bottom line has deteriorated in each of Ralcorp's last three financial years.
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