Biscuit-maker’s wife swings deal for Giro d’Italia
Italian confectionary company Balocco has signed on to sponsor the leader's pink jersey in the Giro d'Italia.
The deal, signed between Balocco and RCS Sport, the media company that promotes the Giro d'Italia, will see the company's logo appear on the prestigious 'maglia rosa' for 2013 and 2014, with an option to extend for 2015.
Although no financial details have been released, the deal is likely to be worth a low seven-figure sum annually.
The Giro d'Italia generates around €8 million in sponsorship each year for RCS Sport and the maglia rosa sponsorship is one of the most valuable.
Balocco currently sponsors Italian Serie A soccer side Juventus and was a key backer of RAI's Italian coverage of the Olympic Games in London.
Balocco replaces Estathe, which has sponsored the Giro for 16 years.
The next edition of the Grio d'Italia will pass through Granda, an Italian town close to Balocco's factory in Fossano. Balocco was founded as a patisserie in 1927 but has diversified and expanded and is now focused on foreign growth.
The company currently exports to 63 countries and is expecting turnover of €150 million this year.
"The Giro is without a doubt one of the most iconic events in our country, and thanks to its international coverage, shows wonderful images of Italy around the world," said Alberto Balocco, the biscuit-maker's chief executive. "It is broadcast in 165 countries and watched by 775 million people. Our sponsorship is therefore a fantastic way of reaffirming our Italian pride and increasing our global profile."
"Another reason is that in 2013, after an absence of 50 years, the Giro will start in Naples," Balocco added. "My wife is from this city, so it means a great deal to my family and I couldn't miss a chance like this. I could go on, there are so many reasons why we decided to partner the Giro d'Italia."
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