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BOSTON (AP) — The Latest on the sale of candy company Necco (all times local):
5:20 p.m.
The bankrupt maker of Necco Wafers, Sweethearts conversation hearts and other beloved American candies has a new owner.
The Ohio-based Spangler Candy Co. had the winning $18.83 million bid for the New England Confectionery Co. at a federal bankruptcy auction in Boston.
Wednesday's acquisition ensures at least a short-term future for the candy maker better known as Necco. Spangler Candy Co. and three other bidders all indicated they would keep Necco operating at its current location in Revere, just north of Boston, at least through the fall.
Spangler Candy Co. makes Dum Dums lollipops.
Interest in Necco has focused on its "sugar line" of chalky wafers and candy hearts. The fate of its chocolate Sky Bar and Clark bar remains unclear.
Necco filed for federal bankruptcy protection last month.
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3:15 p.m.
The 171-year-old candy maker known for its chalky Necco Wafers and those little inscribed hearts that are everywhere on Valentine's Day is up for grabs in bankruptcy court.
A judge is hearing presentations Wednesday by four suitors looking to acquire the New England Confectionery Co., or Necco. It's based just outside Boston.
A deal most likely would ensure a future, at least in the short term, for some of the nation's most familiar candies.
Necco Wafers have been around so long that the company says Union soldiers carried them during the Civil War.
The company filed for Chapter 11 bankruptcy last month, citing competition from multinational candy makers.
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