|NECCO was founded in 1848.|
Tuesday, November 20, 2018
AMERICANA / NO LOVE FOR NATION'S OLDEST CANDY MAKER. UNTIL NOW.
(September 25, 2018)
New Buyer for Necco announced. Click here.
New England Confectionery Co. (known worldwide as NECCO), maker of the iconic Valentine's Day conversation hearts candy Sweethearts, recently feted its 170th anniversary. But a week after purchasing the company out of bankruptcy the new owners promptly shut down the plant and released all employees. To date NECCO is dead.
Round Hill Investments LLC, the firm run by billionaire investor C. Dean Metropoulos and his sons Evan and Daren, reportedly purchased the New England Confectionery Co. out of bankruptcy for $17.3 million.
But when the financial media reported Round Hill refused to make the final payments to the Bankruptcy officials, the deal to buy NECCO lock, stock, and chalky wafers, fell through.
Now, with the Massachusetts factory in Revere MA is shuttered and the company’s ultimate fate unknown, according to the
Wall Street Journal., who quoted an industry watcher: “It’s an industry that’s disappearing,” he said. “It’s sad. There goes another historic American manufacturer.”