NEW YORK -- The Yankees kicked off the new year with a transaction, acquiring right-hander David Carpenter and left-hander Chasen Shreve from the Braves in exchange for left-hander Manny Banuelos, who was once regarded as one of the team's brightest prospects.
It is a move that promises to bolster an ever-changing Yankees bullpen, with Carpenter projected to slide into a setup role in front of Dellin Betances and Andrew Miller, who are expected to compete this spring for the closer's role.
In effect, Carpenter could replace right-hander Shawn Kelley, who was traded to the Padres on Monday for Minor League pitcher Johnny Barbato. Shreve offers another lefty option to compete for a roster spot in the spring, joining a group that includes Justin Wilson, Jacob Lindgren and Tyler Webb.
Carpenter, 29, was 6-4 with a 3.54 ERA in 65 appearances for Atlanta last season, finishing 14 games and recording three saves. In 61 innings, Carpenter permitted 61 hits while issuing 16 walks and recording 67 strikeouts, and is arbitration-eligible for the first time.
The 24-year-old Shreve got his first taste of big league action last July, sporting a 0.73 ERA in 15 appearances with Atlanta. He started the year at Double-A Mississippi and also pitched at Triple-A Gwinnett, going a combined 5-3 with a 2.67 ERA and nine saves in 46 appearances.
Banuelos, who turns 24 in March, was touted alongside Betances and former prospect Andrew Brackman as the Yankees' "Killer B" group of pitching talent, but his trajectory was derailed by Tommy John surgery that forced him to miss the entire 2013 season.
Last year, Banuelos returned to the mound and was 2-3 with a 4.11 ERA in 26 games (25 starts) for Class A Advanced Tampa, Double-A Trenton and Triple-A Scranton/Wilkes-Barre. Making the majority of those appearances at the Double-A level, Banuelos struck out 71 and walked 31 in 76 2/3 innings.
Bryan Hoch is a reporter for MLB.com. Follow him on Twitter @bryanhoch and read his MLBlog, Bombers Beat. This story was not subject to the approval of Major League Baseball or its clubs.