Coca-Cola re-signs Kris Kringle to 15-year, $1.2 billion contract extension

ATLANTA, GA – The Coca-Cola Company has prepared itself for the holiday season by securing exclusive marketing rights to Santa Clause by re-signing the icon to a record breaking $1.2 billion contract extension.

“I guess you could say Christmas came early for me,” said Kringle in a statement after the announcement. Coca-Cola has been working with Kringle since 1931 and it was rumored that a renewal was imminent.

The beverage giant was quick to issue a statement after the announcement. Chairman and Chief Executive James Quincey said that re-signing the popular holiday figure was the number one priority for the company this year. “It was imperative that Mr. Kringle remained our marketing partner and we’re happy with the price,” said Mr. Quincey.