Necco to Close Without Buyer
Necco, the Massachusetts confectioner responsible for Sweethearts, Necco wafers, Clark bars, and Candy Buttons may close its plant in Revere if it can’t find a buyer by May 6. The chief executive of the company wrote a letter to Revere Mayor Brian Arrigo regarding the potential closure.
The Boston Globe reports that Michael McGee, the chief executive of New England Confectionery Co. (aka Necco), notified Arrigo that Necco “has been in ongoing negotiations with potential buyers to allow for its continued operations,” but that if a sale is not finalized the company could lay off its nearly 400 employees as soon as 60 days from the date of the notice.
The company sold its headquarters last year for $54.5 million to developers who plan on using the space for robotics, biotech, and laboratory space, though the Necco’s lease on the property runs through August 2018. Grub Street reports that as part of their deal, the developers paid off the $3 million Necco owed the city of Revere in back taxes and water and sewage bills.
Although many people remember Necco brand candies and treats as the favored candy of their youth, they were never the most popular candy of any decade.