The change from having one or two host nations risked reducing the buzz that distinguishes events such as World Cups and Olympics, but soccer's commercial appeal was strong enough to withstand that, industry experts said.
"For us, this will mean some additional complexity as we'll be activating our brand across several European cities, not just in one country," it added.
"On the other hand, being in many different locations means being able to showcase our brand across the continent."
The German company was a sponsor of Euro 2012 played in Ukraine and Poland this year, and has already signed up for the 2016 tournament in France.
Danish brewer Carlsberg, which has sponsored the tournament since 1988, was also positive.
"We are aware of these plans for the 2020 Championship and think they look interesting," the company said.
Broadcasters are also believed to be reasonably comfortable with the arrangement, although the host cities will not be finalised until early 2014.
The decision has won broad backing from leading figures in European football.
The scramble is now on to become one of the host venues with Wembley leading the way in the UK.