Business digest

REGION

FNB, B.J. Alan reach deal

PITTSBURGH — F.N.B. Capital Corp., a Pittsburgh-based merchant banking subsidiary of F.N.B. Corp., announced the closing of a $10 million mezzanine financing investment in The B.J. Alan Co., a Youngstown-based distributor of consumer fireworks. The mezzanine financing provided by F.N.B. Capital will be invested to expand the Phantom Fireworks brand, allow for further business growth and to assist with the seasonal nature of the business, Stephen Gurgovits Jr., president and CEO of F.N.B. Capital Corp.

“Under the leadership of Bruce Zoldan, Phantom Fireworks has become a highly respected leader in the consumer fireworks industry,” he said.

“We are pleased to enter into this transaction with the F.N.B. Capital Corp. Since the 1970s we have strived to provide our customers with best-of-class service and selection; and this investment will allow us to continue our growth strategies and capitalize on the favorable trends in our industry,” said Bruce Zoldan, president and CEO of B.J. Alan.

Little Tikes to stay

HUDSON, Ohio — The Little Tikes Co. won’t pick up its toys and go elsewhere but will keep its headquarters in Ohio.

The toy maker was bought three years ago by Van Nuys, Calif.-based MGA Entertainment Inc., which weighed relocation offers from Kentucky, Oklahoma, Mississippi and Mexico against $4.3 million in incentives from Ohio and local officials.

Executives decided last month that Little Tikes and its approximately 400 jobs will stay in Hudson, 20 miles southeast of Cleveland. Gov. Ted Strickland said in a statement Thursday that the toy company even plans to add 66 jobs. He says the state appreciates Little Tikes’ long-term commitment to Ohio.

Pet-food building sold to union, Calif. company

VANDALIA, Ohio — Officials say a food-workers labor union and a California company have agreed to buy the former Ohio headquarters of pet-food maker Iams-Eukanuba for $1.95 million. United Food and Commercial Workers International Union Local 75 plans to bring 100 jobs to the building in Vandalia, near Dayton, by the end of 2010.

Last month, Iams-Eukanuba moved its operations to Mason, vacating a Vandalia office complex and taking 240 jobs.

Union spokeswoman Brigid Kelly said Thursday that a local that covers southwest Ohio and parts of Indiana and Kentucky merged in April with one out of Toledo, and the combined operation wanted a central location.

Staff and wire reports