New England Confectionery Company, better known as NECCO, the makers of the iconic NECCO Wafers, Sweethearts, and the Clark Bar, appears to be searching for a buyer in order to allow for continued operations.
The alternative is the plant closure in Revere, Massachusetts and the layoff of their 395 employees.
The company is owned by the Ares Capital Corporation, one of the leading specialty finance company that provides financing to private middle-market companies. Because of the success of the individual candy products, it is likely that the brands will be sold to another manufacturer without the burden of the existing debts and infrastructure. NECCO sold their building last year for $55 million and pledged that the company would continue operations to August 31, 2018.
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