REVERE, MASS. — Round Hill Investments L.L.C., owned by C. Dean Metropoulos and his sons Evan and Daren, shut down the Necco candy making plant in Revere on July 24 and sold the company to another candy maker, according to a July 25 article online in The Boston Globe.
The Metropoulos family did not reveal details on the sale, including the buyer, according to the newspaper. The reported transaction would mark the second time this year the 171-year-old maker of Necco candy wafers has been sold.
The Metropoulos family on May 31 closed on a deal to buy the New England Confectionery Co. (Necco) for $17.3 million. Besides its namesake wafers, Necco also produces such items as Sweethearts candies, Sky Bar and Clark Bar. The Metropoulos family has invested in about 80 entities over nearly 40 years and has reinvigorated such brands as Hostess, Chef Boyardee and Vlasic.
Necco declared bankruptcy in April. The Spangler Candy Co. made a top bid of $18.3 million in a May 23 bankruptcy auction, but that deal fell through, leading to the Metropoulos family buying the company.
Necco also received a warning letter dated May 16 from the U.S. Food and Drug Administration. The letter said the F.D.A. inspected the Necco manufacturing facility from Nov. 13, 2017, to Dec. 14, 2017, and found evidence of rodent activity and insanitary conditions throughout the facility.
“Based on these analyses and findings, we have determined that your candy products are adulterated within the meaning of section 402(a)(4) of the Federal Food, Drug, and Cosmetic Act (the Act), 21 U.S.C. § 342(a)(4), in that they have been prepared, packed, or held under insanitary conditions whereby they may have become contaminated with filth, or whereby they may have been rendered injurious to health,” the letter said.