Articles Tagged with ''NECCO''

Union Confectionery Machinery has been tapped by a third-party buyer to sell assets from New England Confectionery Co. (NECCO) after the company abruptly closed last week.

The New England Confectionery Co. (NECCO) plant in Revere, Mass. shut its doors Tuesday after its recent buyer, Round Hill Investments, LLC, announced it has sold the company to another candy maker.

Round Hill Investments acquired New England Confectionery Co. (NECCO) for $17.3 million in a sale that closed Thursday. 

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.

The New England Confectionery Co. — NECCO — is headed to auction after a failed attempt by a Boston investment firm to buy the embattled confectionery company.

A past president and ceo of New England Confectionery Co. (NECCO) has launched an initiative to save the Revere, Mass.-based manufacturer, which faces laying off nearly 400 employees if it doesn’t find a buyer.

Online bulk candy retailer Candystore.com says it has seen a boom in NECCO wafer sales after Revere, Mass.-based New England Confectionery Co. announced in March it could face major layoffs and possible closure if it doesn’t find a buyer.

The Boston Globe, the Shelby Report and other sources reported NECCO CEO Michael McGee told Massachusetts and Revere officials in a March 6 letter that the 171-year-old company has been in negotiations with potential buyers.