NHL Lockout Costs Buffalo Hotels $2M

December 13, 2012 Updated Dec 13, 2012 at 11:18 AM EDT

By WKBW News

December 13, 2012 Updated Dec 13, 2012 at 11:18 AM EDT

The NHL lockout is impacting business. After three months without hockey, many companies are suffering. Visit Buffalo Niagara says Buffalo has suffered a $2 million economic hit just through lost hotel bookings through the end of November. That doesn't include lost revenues to restaurants and other businesses that cater to Buffalo Sabres' fans and crowds. The Small Business Administration has scheduled a workshop for Buffalo area businesses impacted by the lockout. It will be held Friday at 2 p.m. at the downtown library.

Rich Products is at it again. After announcing an $18.5 million investment in its Buffalo headquarters last month, Rich's has now sealed a trio of deals.

In separate deals, Buffalo-based Rich Products has:

• Acquired Goglanian Bakeries Inc., a California-based firm known for its par-baked pizza crusts, flatbreads and pitas.

• Purchased f'real foods LLC, another California-headquartered firm that produces such products as milkshakes, smoothies and frozen coffee beverages commonly sold in convenience stores.

• Announced a new joint venture with Twin Star Bakery and its business partner, the Stolbun Group.

Company officials say this helps reshape their diverse portfolio and keep Rich's focused on a path of long-term growth.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.