TORONTO – The City of Mississauga’s iconic sports complex, currently called the Hershey Center, will soon bear a new name, the Paramount Center.
“Today marks a significant milestone in the evolution of Paramount Fine Foods. We are extremely proud to partner with the City of Mississauga in the naming of one of Mississauga’s true landmarks, the Paramount Center,” said Mohamad Fakih, Founder, and CEO of Paramount Fine Foods.
“Since opening the first Paramount Middle Eastern Restaurant back in 2007, I have always believed it is important to give back to the community and support the wonderful things the City of Mississauga stand for.”
Mohamad Fakih is a Canadian Muslim entrepreneur who started a popular restaurant chain and is known for his philanthropy.
The multi-purpose sports arena and entertainment venue will undergo a name change just shy of its 20th anniversary. Hershey Canada Inc. decided not to renew the naming rights agreement set to expire on June 30, 2018.
“The City has a great long-standing business relationship with Hershey Canada. We understood that this was a difficult business decision for the company,” said Shari Lichterman, Director, Recreation.
“We’d like to thank Hershey Canada for their partnership over the last two decades and wish them well with their future ventures.”
Hershey Canada’s decision not to renew prompted the City to look for a new sponsor late last year.
Paramount Fine Foods (Paramount) expressed interest and opted to purchase the naming rights through a new ten-year agreement.
“We’re excited to be working with Paramount on this agreement,” Lichterman added.
“With final approval from Council, we look forward to fostering this partnership and the opportunities it will bring to the city.”
“As we approach the July 1 transition date, we will begin to update signage, websites and other facility assets to help local sports clubs, residents and fans around the city adjust to a new name.”
As part of the signed agreement, Paramount will be given the naming and signage rights to the sports complex, which includes the sports arena and entertainment venue, the community rinks, the Mississauga SportZone and outdoor sports fields.
Under the proposed terms:
- The Hershey Center will become the Paramount Center
- The Hershey Community Rinks will become the Paramount Community Rinks
- The Mississauga SportsZone will become the Paramount SportZone
- The Hershey Sports Fields will become the Paramount Sports Fields
Fakih, who calls Mississauga home says, “I am proud to continue to grow the Paramount Restaurants Brand in a city that believes in cultural diversity, innovation, and small business development.”
“This passion and inclusiveness are what makes Mississauga thrive as a community. I am truly honored and thankful for the support the people of Mississauga have given me and my family. We look forward to sharing many memorable moments to come at the new Paramount Center,” he added.
Through the sponsorship agreement, Paramount will also provide food services to the entire facility, including all concessions and events.
The City will continue to use the Hershey name until June 30, 2018.