[Eric] Fryer, 23, batted .335 (129-for-385) with 26 doubles, five triples, 10 home runs and 63 RBI in 104 games with Single-A West Virginia in 2008, seeing time at left field, catcher, first base and designated hitter. He led the South Atlantic League in batting average and on-base percentage (.407) and ranked third in slugging percentage (.506). Fryer was originally selected by the Brewers in the 10th round of the 2007 First-Year Player Draft out of Ohio State University. He will be assigned to Single-A Tampa.
I don't know how Fryer rates defensively, but a hitter is a hitter. MILB.com calls him "A converted outfielder who focused on catching during the second half of the season."
This gives the Yankees another quality bat at catcher in exchange for a pitcher who probably wouldn't have cleared waivers. As a college bat, Fryer should be able to move quickly.
Keep stocking chips; sooner or later you'll get a chance to use them.