Bryan, Ohio-based Spangler Candy Co. acquired NECCO, the historic candy manufacturer based in Revere, Mass., after bidding $18.83 million at a judge-mandated auction late last Wednesday.
The move prevented a previous attempt by a Boston investment firm to buy the embattled confectionery company. The Spangler purchase was scheduled to close May 25. Long-term plans for NECCO’s production equipment are still undecided.