The new unnamed owner of the New England Confectionery Co. (Necco) plans to continue making Sweethearts, Necco Wafers, and Canada Mints, while auctioning off other candy brands, including Clark Bars and Mighty Malts Malted Milk Balls, according to Jim Greenberg, who was hired to sell Necco's other brands and the equipment used to make them. Identified only as a "national confection manufacturer" the buyer has not yet been named, reports the New York Post.
Necco declared bankruptcy in early April and was bought by Round Hill Investments in May for $17.3 million. Within weeks of the purchase, Round Hill, led by Dean Metropoulos, sold the company to its current unidentified owner and announced the shutdown of Necco's Revere, Mass., plant. Two of the approximately 400 laid-off workers filed a class action lawsuit against Round Hill, accusing the company of violating labor laws. Sources have speculated that Round Hill over-committed in the deal and had second thoughts about transferring Necco production to a new facility, according to the report. Full Story
Related: Laid-Off Necco Employees File Class Action Lawsuit; Necco Acquired Again, MA Plant Shut Down.
from Specialty Food News https://ift.tt/2KQM5HQ
No comments: