Pacific Northwest ...
Bellevue-based Coinstar yesterday said it agreed to purchase most of The Amusement Factory’s assets for $36 million in stock. The deal is expected to close by year’s end.
The Van Nuys, Calif.-based Amusement Factory provides amusement entertainment to retailers in more than 14,000 U.S. locations, including skill crane machines, bulk vending and kiddie rides.
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Amusement Factory last year posted $60 million in revenue and employs 270 people.
Coinstar plans to merge Amusement Factory with its subsidiary American Coin Merchandising next year.
Coinstar offers self-service coin-counting machines and other services in 47,000 retail locations.
Bakery’s closure to take 200 jobs
Interstate Bakeries said yesterday it is closing its Lakewood, Pierce County, bakery as it consolidates operations in the Northwest.
The bankrupt maker of Wonder Bread and Hostess Twinkies said the closure will eliminate about 200 jobs and be completed by Dec. 17.
While Kansas City, Mo.-based Interstate Bakeries said it plans to stop selling its bread in Washington and Oregon, but snack-cake sales will continue.
Quarterly sales up by one-third
Nextel Partners, which sells Nextel phone service in small and midsize markets, said third-quarter sales rose 32 percent as the Kirkland company added a record number of subscribers.
Sales, excluding equipment, advanced to $445.2 million, more than some analysts expected. Net new subscribers increased 27 percent, or 107,200, from a year earlier, Nextel Partners said yesterday in a preliminary statement of results. Profit wasn’t reported.
Startup bank coming to Everett
Lansing, Mich.-based Capitol Bancorp plans to open a new bank in Everett next year, its second startup in Washington. The publicly traded company opened Bank of Bellevue in June.
Most banking companies use market research to scout out sites for new branches. Capitol Bancorp expands by opening entirely new banks where it finds potential leaders who can raise 49 percent of the startup capital.
It has 38 community banks nationwide.
Cost-cutting move to claim 225 jobs
Coburg, Ore.-based Monaco Coach said it plans to lay off 225 employees as it anticipates posting a loss of about 20 cents a share for the third quarter on a 17 percent drop in sales.
The layoffs by the motor-home maker would cut expenses by about $8 million a year and shrink the number of administrative and indirect labor employees by about 17 percent, Monaco Coach said in a statement late Monday.
Compiled from Seattle Times staff, The Associated Press and Bloomberg News