Necco, creator of candy delights and party table staples Sweethearts and Necco Wafers, has just shut down their manufacturing plant.
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On Tuesday Round Hill Investments LLC announced that it is selling Necco brands to another manufacturer, so it will be closing down its Massachusetts plant as a result. That will result in the loss of 230 jobs, and those workers were shocked to learn the news that they would no longer have jobs as of this Friday when they can pick up their final paychecks (CBS News). We’re hoping those who lost out on jobs will find new employment quickly.
While Round Hill is closing down the plant and seeling Necco to another confectionary manufacturer, it did not specify whether Necco would continue making Sweethearts and Necco Wafers under that new ownership, or for that matter who the new owner is.
This move comes as a surprise overall, as Round Hill Investments recently purchased Necco brands from a bankruptcy auction for $17.3 million in May after Necco filed for bankruptcy protection in April. Round Hill has a reputation of investing in classic brands such as Hostess and Vlasic, but even in their original announcement, they did allude to future consolidation.
“Acquiring Necco is a special opportunity to create a robust platform designed to build critical mass and create the potential for consolidating additional confectionery brands in the near future,” Daren Metropoulos said in a press release.
Fans of Necco’s products are certainly hopeful that their favorite sweet items will continue to be produced. There was a shortage of Necco Wafers when Necco’s financial issues became public, as many bought as many as they could. That resulted in big price spikes, so hopefully they will continue to be produced and will be in abundant supply, otherwise, that will likely happen again.
It would be a shame to lose Necco, as the company started before the Civil War and is the oldest continually operated U.S. candy company.
In addition to Necco Wafers and Sweethearts also produces Clark Bites, Mighty Malts, Mary Jane bars, Slap Stix, Skybars, Candy Buttons, and Squirrel Nut Zippers.
Will Necco live on with another company? Let us know what you think in the comments.
