Spangler Candy

Necco, the US manufacturer of confectionery products such as Necco Wafers, has been sold in a bankruptcy auction to Spangler Candy for $18.83 million. The firm beat off competition from investment firms Gordon Brothers and Round Hill to secure the acquisition. Prior to the auction, Gordon Brothers had been in negotiations to acquire Necco for $13.3 million. The Necco business dates back to 1847 and produces the traditonal sugar confectionery …