02/23/2007 5:15 PM ET
Wise Foods named Official Potato Chip and Cheez Doodle Sponsor of the Boston Red Sox
All-Star David Ortiz named "Wise Player"; Wise to be Presenting Sponsor of the club's groundbreaking Lindos Sueños Program
BOSTON -- Wise Foods, Inc., a leading regional producer of salty snacks, and the Boston Red Sox announced today that Wise has been named Official Potato Chip and Cheez Doodle® Sponsor of the team. In addition, David Ortiz, one of the most respected hitters in baseball, has been named the team's "Wise Player." The company will also serve as Presenting Sponsor of the Red Sox Lindos Sueños (Beautiful Dreams) program, an innovative cultural exchange initiative that works to bring youngsters of different backgrounds together through their shared love of baseball.
Under the three-year agreement, Wise will supply Wise potato chips, Wise kettle chips and Cheez Doodles® to all Red Sox games at Fenway Park. Wise will have prominent right-field wall signage in the area of the stadium known as Pesky Corner and will sponsor a new feature segment on the main Red Sox scoreboard. The company will have rights to use the Red Sox logos and team marks on its products and in promotional efforts throughout New England.
Red Sox "Wise Player," David Ortiz - the designated hitter for the team and a major contender for the American League's Most Valuable Player award in 2006 - will partner with Wise on a variety of promotional efforts.
As Presenting Sponsor of the Lindos Sueños program, Wise joins the Red Sox in bringing together young men from the United States and the Dominican Republic to work together on community service projects in the Dominican Republic. The program is supervised by former baseball star Jesus Alou, the current Director of Dominican Operations for the Red Sox. Participants in the program also receive coaching and instruction at the Red Sox Baseball Academy in El Toro, Dominican Republic.
"This is a very exciting new relationship for Wise," said Ed Lambert, CEO and President of Wise Foods, Inc. "The Red Sox have a thriving baseball tradition, and we are pleased that Wise will have a strong and supportive presence with the team in Fenway Park and through special events in the community such as youth batting clinics and Red Sox pep rallies. We are thrilled to welcome a player of David Ortiz's talent and accomplishment as the "Wise Player." We are also honored to be a part of the Lindos Sueños program and look forward to helping this innovative and valuable cross-cultural program grow over the next three years.
"We are pleased to welcome Wise Snacks to the Red Sox family and into our home at Fenway Park," said Sam Kennedy, Senior Vice President of Sales and Marketing. "Great snacks are a tradition at baseball games, and this agreement makes sure Red Sox fans have a great selection of delicious Wise products to choose from."
Marcos A. Rodriguez, Managing Member of Palladium Equity Partners, LLC, the investment firm that owns Wise Foods, commented, "We are pleased that Wise has teamed up with the Boston Red Sox and David Ortiz to become the exclusive provider of Potato Chips and Cheez Doodles® at Fenway Park. We are also proud of our commitment to help build the Lindos Sueños program. As the largest private equity firm owned by Latinos in the U.S., we understand firsthand the enormous value in strengthening relationships and understanding between people of different backgrounds. This program provides an incredible experience for the participants, which will stay with them for a lifetime. "
Source Communications (www.sourcead.com) worked with Wise Foods in developing its Red Sox sponsorship program.
Wise Foods, Inc. (www.wisesnacks.com) is one of the premier salty snack companies in the United States. Founded in 1921, the company is one of the largest manufacturers of potato chips and other salty snacks with leading market positions in 21 eastern states from Maine to Florida. The company manufactures and sells a full line of salty snack products under some of the most recognizable brand names in the salty snack food industry, including WISE® and CHEEZ DOODLES® and NY DELI ®.
Palladium Equity Partners, LLC (www.palladiumequity.com) is an investment firm focused on middle market companies in sectors including financial and business services, healthcare, retail, food, manufacturing and media. Palladium has a particular focus on companies well positioned to capitalize on the fast growing U.S. Hispanic market. The principals have invested more than $1 billion of equity in over 30 portfolio companies during the last two decades. Formed in 1997, Palladium currently has committed equity capital in excess of $750 million.