There's a new twist in the story of the oldest continuously operating candy company in America and it means that you can own a piece of the Necco candy business.
To catch you up, the New England Confectionery Company declared back in March when the Boston Globe reported that the company would go out of business if it couldn't find a buyer. The news caused a run on Necco Wafers and Sweetheart conversation hearts. The Necco candy company was purchased at a bankruptcy auction, but the original buyer, Spangler Candy, backed out before the deal was done.
The company was finally bought in May by another one of the original bidders, Round Hill Investments LLC, which is owned by billionaire C. Dean Metropoulos and his sons Evan and Daren (and is also the company that saved Hostess Twinkies). However, they then turned around and sold Necco to an undisclosed buyer in July, who in turn stopped candy production at the Necco factory in Revere, Massachusetts, and abruptly handed out final paychecks to the workers.
And now Round Hill is both being sued for not paying the full sale price and countersuing the bankruptcy trustee for fraudulently inducing them to buy the Necco candy company.
The undisclosed new owner is selling off some of the Necco candy brands and assets, including Haviland Thin Mints, Mary Jane, Clark Bar, Skybar, Slap Stix, Peach Blossoms, Banana Splits, and Mighty Malts Milk Balls, at a public auction to be held Sept. 26-27 at the Necco plant located in Revere. The auction is being hosted by auction company Rabin.
"Rabin's history with Necco goes back 25 years," says Rabin CEO and President, Richard Reese. "We, along with our partner Union Confectionery Machinery, conducted auctions at both of their Boston facilities. This is not only the end of an era for Necco candies, but for us as well. We are honored to be a part of this process and we have great respect for the Revere community and Necco history."
The auction includes the intellectual property, production lines, and equipment for the select brands. The new owner is keeping the Necco wafers, Sweethearts, and Canada Mints brands and plans to set up a production line for those candies in another location.
The live and online auction starts both days at 10 a.m. Interested buyers can inspect the equipment on Sept. 24 and 25 from 9 a.m. to 4 p.m. You need to register to bid, so if you're really interested in saving these historic brands, check the Rabin page for more info.
