April 11, 2018

Necco closure talk sparks panic candy sales

After Necco maker New England Confectionery Co. revealed that the company could close operations and lay off about 400 employees, fans of the company’s offerings began buying up as much of their favorite candy as they could. The panic led to Necco Wafer sales spiking more than 63 percent since the announcement, CandyStore.comreported.

In March 2018, Necco’s CEO Michael McGee informed the Mayor of Revere that the company’s time at its plant was up on May 6, 2018 unless the company finds itself a buyer. The company that was founded in 1847 makes iconic candy such as Necco Wafers and other brands such as Sweethearts, Mary Janes and Clark Bars among others. However, recently the company’s lackluster performance forced it to move from Cambridge to a cheaper location in Revere, near Boston in 2003.  In 2017, company headquarters were sold off to developers, who agreed to pay the $3 million Necco owed in back taxes, water and sewage bills as part of the $55 million deal.

After a surge in sales, the company wrote on its Facebook page: “Fans, we have received an astounding amount of emails concerning the future of our company. I will do my best to get back to you all. All I can say is that we are unsure of our future but hopeful for a buyer to keep this sweet and nostalgic brand alive for many more decades.”

 

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