Maker of Candy Hearts, Necco Wafers Sold for $17.3M to Company That Saved Twinkies - NECN
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Maker of Candy Hearts, Necco Wafers Sold for $17.3M to Company That Saved Twinkies

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    NEWSLETTERS

    Necco Candy Company Bankruptcy Option

    Necco, the 171-year-old candy company known for Necco Wafers and Sweethearts, is up for grabs after filing for bankruptcy.

    (Published Wednesday, May 23, 2018)

    A company that once rescued the Twinkies brand is now taking over the maker of Necco Wafers.

    The family business of billionaire Dean Metropoulos announced Friday it paid $17.3 million for the New England Confectionery Co., or Necco. It's a surprise ending to a federal bankruptcy auction that initially left Necco to an Ohio company.

    Spangler Candy Co. made the highest bid last week, but court records say it refused to close without a price reduction.

    Instead a deal closed Thursday to sell Necco to a Connecticut-based branch of Metropoulos' company, which made the second-highest bid.

    Metropoulos' firm previously bought Twinkies maker Hostess out of bankruptcy in 2013.

    The 171-year-old Necco is based near Boston and is known for its Sweethearts candies sold around Valentine's Day.

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