Necco sold to the company that saved Twinkies

Revere--082511-At the NECC factory, NECCO wafers are made. The wafers are sorted for packaging the various flavors together. Boston Globe staff photo by John Tlumacki (business)
At the New England Confectionery Co. factory, NECCO wafers are made. –John Tlumacki / The Boston Globe, File

BOSTON (AP) — A company that once rescued the Twinkies brand is now taking over the maker of Necco Wafers.

The family business of billionaire Dean Metropoulos announced Friday it paid $17.3 million for the New England Confectionery Co., or Necco. It’s a surprise ending to a federal bankruptcy auction that initially left Necco to an Ohio company.

Spangler Candy Co. made the highest bid last week, but court records say it refused to close without a price reduction.

Instead a deal closed Thursday to sell Necco to a Connecticut-based branch of Metropoulos’ company, which made the second-highest bid.

Metropoulos’ firm previously bought Twinkies maker Hostess out of bankruptcy in 2013.

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The 171-year-old Necco is based near Boston and is known for its Sweethearts candies sold around Valentine’s Day.

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