The International Herald Tribune newspaper reports that the deal will involve 17 Procter & Gamble brands, from snack brand Pringles to paper towel brand Bounty.
Kirk Perry, vice president for Procter & Gamble in North America, said the company was attracted by the Olympics' appeal for women, teenagers and adults ages 18 to 34, which matched the company's consumer base.
Officials have not said what the value of the deal is, but Lisa Baird, chief marketing officer at the United States Olympic Committee, described the deal as "very significant", and that Procter & Gamble had signed on as partner, the highest level of engagement. The International Herald Tribune reports that partners typically pay between $15 million and $25 million for such deals.
