Click here to subscribe today or Login.
Capriotti’s is expanding
The owners of Capriotti’s, a banquet facility in Tresckow, have announced that they’re constructing a new larger facility at the entrance of the McAdoo Industrial Park. That park is owned by Hazleton-based economic development corporation CAN DO.
The new venue will be called Capriotti’s Palazzo, and the current Capriotti’s will close when the new location opens. The target opening date is in December.
Capriotti’s partners Thomas Trella and Robert Veet said the 10,000-square-foot catering hall will seat up to 375 people. The current facility seats 250 and has 4,200 square feet of space.
The new establishment will employ 20 to 30 people, an increase in the current work force at Capriotti’s.
Flowers buys Tasty Baking
Flowers Foods Inc. is buying Tasty Baking Co., maker of Tastykakes, for about $34.4 million in cash.
Thomasville, Ga.-based Flowers, a packaged bakery foods maker whose brands include Nature’s Own and Whitewheat, said Monday that the deal will expand its geographic reach, bring in new customers and broaden its snack product line.
Philadelphia-based Tasty, whose line of packaged sweets includes Kandy Kakes and Krimpets, will become part of Flowers’ direct-store-delivery business. Founded in 1914, Tasty Baking is one of the most well-known brands in the City of Brotherly Love.
Both companies’ boards have unanimously approved the deal. The acquisition is expected to close during the second quarter.
Fund warns about oil prices
The International Monetary Fund is warning that the world is facing new threats from surging oil prices, Mideast turmoil, higher inflation in China and Europe’s debt woes.
But the IMF says the new troubles should not be severe enough to derail the recovery from the worst global recession since World War II.
In a new economic forecast, the IMF says the global economy should grow 4.4 percent this year.
Disney reopens after quake
Tokyo Disney Resort in Urayasu, Chiba Prefecture, will resume operations Friday after being closed since the March 11 earthquake, the amusement park’s operator Oriental Land Co. said.
But given the electricity shortage caused by power plant shutdowns in the wake of the March 11 disaster, Tokyo Disneyland will not operate after 6 p.m. for the time being.
Hotels around the amusement park will likely also return to full operations gradually, sources said.
The park operator said it has put off the reopening of Tokyo Disney Sea, a separate amusement park adjacent to Tokyo Disneyland, until late this month at the earliest.