Sweetheart Candy acquires NECCO for $17.3 million
The New England Confectionery Co. (NECCO), the 171-year-old maker of the iconic NECCO wafer, has been acquired by Sweetheart Candy, an entity owned by Dean, Evan, and Daren Metropoulos, for $17.3 million.
The New England Confectionery Co. (NECCO), the 171-year-old maker of the iconic NECCO wafer, has been acquired by Sweetheart Candy, an entity owned by Dean, Evan, and Daren Metropoulos, for $17.3 million. The deal, which closed May 31, came in the wake of the company’s April bankruptcy filing and subsequent auction process.
The Metropoulos family has a long and successful track record of reinvigorating classic brands including Hostess, Pabst Blue Ribbon, Bumble Bee, Chef Boyardee, Vlasic, Ghirardelli, and Perrier Jouet, among others.
Headquartered in Revere, Mass., NECCO—the oldest continuously operating candy company in the United States—produces sweet treats, including seasonal Sweetheart Conversation Hearts, Candy Buttons, Mary Jane candies, and Clark Bars, in addition to its namesake wafers.
“We are extremely excited to bring our extensive background and expertise to bear in working to revive NECCO and its amazing brands, all of which have a special place in the heart of Americana,” said Evan Metropoulos.