Food Industry
Industry: Email Alert RSS FeedAntonellis, investor groups acquire Necco.(NEWS)
Candy & Snack Business, January, 2008
REVERE, MA -- Domenic M. Antonellis, president and CEO of New England Confectionery Co. (Necco), has partnered with American Capital Strategies Ltd. (ACS) and Clear Creek Capital LLC to buy the candy maker from UIS Inc. for an undisclosed sum. UIS, which also owns window- and door-maker Hurd Millwork, has been seeking a buyer for the manufacturer of Sweethearts Conversation Hearts, Necco Wafers, Clark Bar, Haviland and Mary Jane candies for more than a year.
As a result, the candy and chocolate maker is now a portfolio company of American, which also owns Hospitality Mints, LLC.
Antonellis says: "The acquisition comes at a critical juncture in the company's 160-year history and displays a strong commitment to the business, its future and its customers,...
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