GREENWICH, CONN. — Sweetheart Candy Co. L.L.C., an entity owned by Dean, Evan and Daren Metropoulos, has acquired the New England Confectionery Co., the 171-year-old maker of Necco wafers, for $17.3 million. The deal, which closed May 31, comes after Spangler Candy Co. was the top bidder, at $18.3 million, in a May 23 auction for the New England Confectionery Co., which filed for Chapter 11 bankruptcy protection in April.
Mike McGee, chief executive officer of the New England Confectionery Co., Revere, Mass., confirmed that Sweetheart Candy Co. had acquired the business.
“We are thrilled to be partnering with the Metropoulos team given their impressive track record working with great consumer brands and strong commitment to supporting customers with outstanding products and service levels going forward,” he said.
The Metropoulos family has invested in about 80 entities over nearly 40 years and has reinvigorated such brands as Hostess, Chef Boyardee and Vlasic.
“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.
Necco also produces items such as Sweethearts candies, Sky Bar and Clark Bar.