NECCO Candy Factory Suddenly Closes After 117 Years In Business

Aug 16, 2018

Founded in 1847, the New England Confectionery Company (NECCO) was the oldest continuously running candy company in the US. Perhaps you didn't know the name, in part because the name changed more than once over the years, but they made Sweethearts candy hearts, a staple of Valentines Day. They also made Candy Buttons, Mary Janes, Clark Bars and other iconic American candies.

However, they are suddenly and unexpectedly no longer in business. In July 2018, workers at their plant in Revere, Massachusetts were told their paycheck that Friday would be their last. The plant employed 230 employees.

This news was a shock to all of them.

This comes on the heels of two months of behind-the-scenes business drama. In May 2018, the company was sold in a bankruptcy auction. They were purchased by Spangler Candy, maker of Circus Peanuts and DumDums suckers. Except, the deal fell through. Spangler Candy backed out at the 11th hour.

Early in the month of June, Round Hill Investments, LLC stepped in and bought the company. They renamed it Sweetheart Candy Co. for its most famous product.

The owner of Round Hill Investments, LLC is a billionaire whose name you might not have ever heard before: C. Dean Metropoulus. He paid $17.3 million for the troubled NECCO brand.

He has a history of scooping up bargain companies in bankruptcy. Given his track record, hopes were high that this would work out. But things took a turn for the worse. A lawsuit has been filed claiming they didn't pony up the last million they owed. Their side of the story: They claim that money was spent on remedying FDA violations at the candy factory. They claim they don't owe any additional payments.

With financial drama having taken a dark turn to legal drama, Round Hill announced on Tuesday, July 24, 2018, that the company had been sold again and was shutting down post haste. This is how the workers got the news that their Friday paychecks that week would be their last. Merry Christmas in July to you -- NOT.

They had previously been told that rent was paid up through October. They were under the impression that they had at least a few more months to job hunt. They also were led to believe the company might get turned around and their jobs might stay.

The Revere, Massachusetts website lists NECCO as its largest employer and indicates they employed 600+ people. Unsurprisingly, Mayor Brian Arrigo expressed his disappointment at the loss.

We don't know if these iconic candies are gone for good. Would you be sad if they were? Ask your friends how they feel about it and pass this story on!