Italians relish holiday Panettone cakes with coffee, as a between meal snack, and after dinner all season long. Panettone can be toasted and spread with butter or mascarpone cheese or used to make our favorite French toast. Stock up and share Balocco Cranberry Panettone cake with guests during the holidays for an authentic Italian treat! Balocco Cranberry Panettone cake is classic Italian dessert cake with bits of cranberry.