Nestle Ramps Up Marketing in US With Multiyear NBA Deal
(Bloomberg) — Nestle SA signed a multiyear marketing deal with the National Basketball Association in its biggest international brand collaboration ever as it seeks to gain ground in the key US market.
The chocolate and malt drink brands Milo, Nescau and Nesquik will become official partners of the NBA in an agreement that spans 21 markets across four continents, the Swiss food group said Wednesday. The deal will come into effect from January.
The move is part of Nestle’s wider strategy of focusing on its biggest brands and fewer, larger global marketing platforms to drive sales and attract a new generation of customers.
Nestle reported weaker sales volumes in North America in July, disappointing shareholders who are relying on Chief Executive Officer Philipp Navratil to revamp the company.
Navratil’s turnaround plan so far involves focusing on coffee, petcare and food and snacks, the most lucrative divisions, while shedding non-core parts of the business. Nestle most recently agreed to sell its mainstream vitamins and supplements business to Yellow Wood Partners for $1 billion.
Nestle didn’t disclose the value of the NBA deal, which comes after a 2024 agreement to make KitKat the official chocolate bar of Formula 1. Rivals have also struck agreements with global sporting leagues, including PepsiCo Inc.’s partnership with UEFA Champions League and Unilever Plc’s sponsorship of the latest FIFA World Cup.
As part of the NBA collaboration, Nestle will help drive youth participation in sport. Nescau, one of the brands included in the deal, is popular in Brazil, which also ranks as one of the NBA’s most important international markets.
–With assistance from Fabienne Kinzelmann.
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