Spangler Candy Co. revealed it was the buyer of New England Confectionery Co. (Necco) from Round Hill Investments for $17.3 million, reports the New York Post. Spangler made a $18.8 million bid for Necco in May in a bankruptcy court auction, but backed out of the deal when it accused Necco of failing to meet requisite sale conditions. When Spangler exited, Necco fell to the second-place bidder, Round Hill Investments.
Spangler CEO Kirk Vashaw notes that the company is "particularly excited about the Sweethearts brand." It hopes to restart Necco's production in 2019, according to the report. Full Story
Related: Sweetheart Candy Acquires New England Confectionery Co.; Necco Acquired Again, MA Plant Shut Down.
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Spangler Revealed As Necco Buyer
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September 28, 2018
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