Cadbury to sponsor Olympics

Deighton: Thrilled by deal

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London 2012 are closing in on their sponsorship target after Cadbury was named as the "official confectionery and ice cream supporter" for the Games on Monday.

The confectionery company have been announced as a 'tier two' sponsor of the Games, giving them the right to use the London 2012 marks on their products as well as marketing rights to the British Olympic and Paralympic teams.

Organisers need to raise around £650million from domestic sponsors and are two thirds of the way to that target.

London 2012 chief executive Paul Deighton is delighted by the deal.

"Following the success of Team GB and Paralympics GB this summer, we all came back from Beijing with a spring in our step and this has been replicated in the commercial sector - there has been a surge of interest in London 2012 and I'm thrilled that Cadbury - another great and trusted British brand - has come on board," he said.

"We have now raised over £430million, which is well on our way to our domestic sponsorship target as we seek to raise the £2billion required to stage the Games in 2012."

During the Games in 2012, Cadbury will supply all confectionery and packaged ice cream sold at venues and within the Olympic Park.

Cadbury's chief executive Todd Stitzer revealed the company's pride in joining the London Games.

He said: "For nearly 200 years, Cadbury has been part of the fabric of British life so we are extremely proud to be a sponsor of the London 2012 Olympic Games and Paralympic Games."