Herbalife Ltd., the maker of weight-management, nutritional supplements and personal care products, has named Velocity Sports & Entertainment to maximize its sponsorship assets and opportunities.

Velocity Sports & Entertainment, a sponsorship and lifestyle-marketing agency based in Norwalk, CT, will build upon Herbalife's existing promotional activities and seek new alliances and sponsorships. The deal began Jan. 1.

"We're in the middle of helping to develop a strategic sponsorship portfolio, both with existing sponsorships and taking a look forward at what their portfolio should look like, said Harlan Stone, principal at Velocity Sports & Entertainment.

Herbalife's partnerships include the AVP Pro Beach Volleyball Tour, the Tour of California bicycle road race, the Los Angeles Galaxy and the Home Depot Center, in addition to triathlons and other fitness and sporting events around the world.

Herbalife products are sold in 61 countries via a network of more than 1 million independent distributors. The company was founded in 1980.

"Sporting and fitness events give us a tremendous opportunity to promote our brand in an environment where Herbalife distributors can reach new customers outside their current channel of distribution," said Greg Progert, president and COO of Herbalife in a statement.