New England Confectionery Co., the 160-year-old maker of nostalgic treats like Sweethearts Conversation Hearts, Mary Jane candies, and its eponymous Necco wafers, has been sold.
American Capital Strategies Ltd. of Bethesda, Md., said it partnered with Clear Creek Capital LLC and Necco's chief executive, Domenic M. Antonellis, in its investment.
Real estate records show that Necco sold its land at 101 and 135 American Legion Highway in Revere to companies based at American Capital Strategies for $15 million in a series of transactions that took place Dec. 21. The rest of the terms of the deal were not disclosed.
American Capital said the investment included equity and secured loans.
"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, vendors and employees," Antonellis said in a statement.
Necco's parent company, UIS Inc., said last year that it would explore the sale of the candy maker.
The company has a lineage of sweets going back to 1847, when founder Oliver Chase invented the country's first candy machine, the lozenge cutter. In 1866, the company began to print messages directly on candy, and by 1902 it was making "conversation mottos" on candy hearts, watches, horseshoes, and baseballs.
The candies have figured in world events over the years. The five-cent-size Clark Bar was sent overseas to American troops during World War I. In the 1930s, Admiral Richard Byrd took more than two tons of Necco wafers to the South Pole, according to a company history. In 1942, the company turned over part of its plant for war manufacturing.
The company has created or acquired many classic brands, including the Clark Bar, Haviland, Sky Bars, Mighty Malts Malted Milk Balls, and, most famously, the candy hearts that are standard Valentine's Day treats.
In 2004, the candy hearts were featured on a postage stamp.
Before the company moved to Revere, Necco had facilities in Cambridge and Woburn. It swapped its historic 500,000-square-foot Cambridge plant, on Massachusetts Avenue, for a renovated 820,000-square-foot Revere warehouse in 2003. The biotechnology giant Novartis AG took over the Cambridge building.
American Capital said the company would grow through acquisitions, new products, and extensions of product lines.
Vice president Jeffrey Anapolsky said in a statement that Necco's growth was hindered in recent years, and that refocusing the company could help it grow into "a leader in the confectionery business."
Carolyn Y. Johnson can be reached at cjohnson@globe.com and Thomas C. Palmer Jr. at tpalmer@globe.com.
