Sweetheart Candy Co. Acquires NECCO After Spangler Deal Falls Through

Posted On: 6/6/2018

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GREENWICH, CT -- New England Confectionery Co. (Boston, MA), the 171-year-old maker of the iconic NECCO wafer, has been acquired by Sweetheart Candy Co. LLC, owned by Dean, Evan and Daren Metropoulos, for $17.3 million.

Spangler Candy Co. (Bryan, OH) announced on May 25 that it had acquired New England Confectionary Co. The deal came in the wake of the company's April bankruptcy filing and subsequent auction process but fell through. The Wall Street Journal reported that according to court documents, Spangler pushed for the price to be adjusted, which caused the sale to collapse.  

New England Confectionery, headquartered in Reverse, MA, is the oldest continuously operating candy company in the U.S. It was formed by the merger of several smaller candy producers in 1901. It had been known as the oldest continuously-operating candy manufacturer in the United States. It reported the production of its trillionth Necco Wafer in 2010. It produces seasonal Sweetheart Conversation Hearts, Candy Buttons, Mary Jane candies and Clark Bars, in addition to its namesake wafers.