The deal for the New England Confectionery Co. gives the Revere, Mass., candy maker, which produces Necco Wafers, Sweethearts and other iconic candies, a new lease on life. The deal for the New England Confectionery Co. gives the Revere, Mass., candy maker, which produces Necco Wafers, Sweethearts and other iconic candies, a new lease on life. Spangler had won a chapter 11 auction last week and agreed to pay $18.83 million for the pre-Civil War era candy maker. The failure of the Spangler sale left backup bidder Round Hill in position to acquire the 171-year-old candy maker. In April, New England Confectionery, which had been owned by New York investment firm Ares Capital, sought chapter 11 protection.

Source: Wall Street Journal June 01, 2018 16:52 UTC