People who suffer from the munchies would be wise to check out the products portfolio at Wise Foods. Located in Berwick, Pennsylvania, the company manufactures salty snacks such as its version of Frito-Lay's CHEETOS, called cheez doodles (unlike Frito-Lay, Wise doesn't use capital letters for the name of this product) and New York Deli potato chips. The regional foods firm also manufactures popcorn, pretzels, pork rinds, tortilla chips, and dips and salsa. Its brand names include Bravos, Dipsy Doodles, Ridgies, Wavy Potato Chips, Cheez Waffies, and Wise. The company's products are sold at retail food and convenience outlets located in the Eastern US.
The company's customers include some of the country's largest retailers, including Giant, Kmart, Kroger, Wal-Mart, Walgreen, Food Lion, and Winn-Dixie.
A longtime fixture in New York, Wise counts the city's youth as one of its target audiences. In 2010, the snack foods maker launched a marketing campaign that spotlighted dancing to specifically target young African Americans and Hispanics living in small neighborhoods across New York City. As part of this effort, Wise traveled to several events and festivals, such as the Bronx Music Festival, in what was dubbed the Wise Big City Boogie caravan.
Wise was purchased by investment firm Palladium Equity Partners in 2000. Since Palladium's initial investment, Wise has received a boost through a late 2010 credit facility provided by Ally Commercial Finance and Siemens Financial Services. The deal involved a $48 million credit facility, a revolving credit line, and a term loan. The debt arrangements, which came on the heels of the economic downturn, allow Wise to refinance existing debt while keeping an eye toward growth. The facility also returns capital to Palladium through dividend payments.
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