The parent company of the manufacturer that makes Necco and Sweethearts announced over the weekend that has closed abruptly.
Round Hill Investments, the parent company, reported that it will sell its Necco brands to another manufacturer and close its factory in Revere, Massachusetts, effective immediately. This comes after their $17 million purchase of the candy maker in May.
The close was so abrupt that workers did not even know it was happening – management told over 200 employees that Friday would be their last day, which shocked them.
Necco is the oldest candy manufacturer in the nation, operating for 171 years. Consequently, their announcement of bankruptcy in April came as a surprise to many people. The company has not announced the new buyer or the price of the acquisition.
Many people love the tradition of giving or receiving Sweethearts on Valentine’s Day – although they don’t taste great, they have short phrases on them which make the tradition sweeter. It would be a shame to see this tradition die because of the company’s financial struggles.
If the new buyer can create more sales and increase the company’s profit margin, these candies may not turn into limited edition collectors’ items. However, if the new buyer struggles to improve the company as Round Hill did, Necco and Sweethearts might see the end of the road.
Featured image via Flickr/Mike Mozart
