Spangler Candy Co. buys Necco wafers, Sweethearts brands
Dum Dum maker also purchases 20-acre site for expansion.
September 25, 2018
Spangler Candy Co. has purchased the Necco wafers and Sweethearts brands following a failed $18.83-million bid in May to buy the now defunct New England Confectionery Co.
The Dum Dum maker announced the acquisition of the brand material and associated equipment Friday. Spangler CEO Kirk Vashaw said the company plans to reintroduce Necco wafers next year and Sweethearts in time for Valentine’s Day 2020.
Spangler will also produce Canada Mints, another former NECCO brand made on the same equipment.
“Sweethearts and Necco wafers are iconic brands with rich hundred-year-plus histories,” Vashaw said. "These are perfect additions to our portfolio of traditional candies. We are particularly excited about the Sweethearts brand. Many people have memories of sorting through their box of Sweethearts to find just the right message to share.”
Earlier this year, Spangler made the winning bid on NECCO assets during a May 23 bankruptcy auction. However, the deal fell through shortly afterward because NECCO could not meet closing conditions set forth under Spangler’s purchase agreement.
Round Hill Investments, owned by the Metropoulos family, scooped up NECCO for $17.3 million in June but abruptly shut NECCO’s doors and sold it again in July. Union Confectionery Machinery and Rabin Worldwide are set to auction remaining NECCO intellectual property and equipment this week.
Meanwhile, Pennsylvania-based Boyer Candy has purchased the Clark Bar brand and intends to produce the candy bar in its home state once again.
In addition to the acquisition, Spangler announced it has purchased a 20-acre campus adjacent to its site in Bryan, Ohio from New Era Ohio, LLC. Spangler will renovate it for additional warehouse space and future expansion.
In recent years, the campus has provided space for local businesses including the Activate Health Clinic, Gendron and Alex Products. Among the planned renovations is an expansion of the Activate clinic, which provides private family healthcare services to Spangler employees and three other companies. Gendron also will continue to operate in the facility.
Vashaw said “significant” renovations will have to be made in order for the site to meet food safety standards.
“Our new brands and our campus expansion will have direct benefits to our consumers, customers, suppliers, employees and the communities where we do business,” he said.