3 new bidders emerge in auction of maker of Necco Wafers - Western Mass News - WGGB/WSHM

3 new bidders emerge in auction of maker of Necco Wafers

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(Image Courtesy: MGN Online / Necco / Facebook) (Image Courtesy: MGN Online / Necco / Facebook)

REVERE, Mass. (AP) - Three new bidders have stepped in with offers to buy the bankrupt manufacturer of Necco Wafers, Sweethearts and other iconic candies.

The Boston Globe reports there are now four offers for Massachusetts-based Necco, or New England Confectionery Co.

A bankruptcy auction is scheduled for Wednesday.

Gordon Brothers, which was in negotiations to purchase the company for $13.3 million before Necco filed for bankruptcy protection in April, is designated as the initial bidder.

The highest bid, $15 million, is from Round Hill Investments LLC, which specializes in reviving consumer brands.

Ohio-based Spangler Candy Co. entered a bid of $14.5 million.

Kgbdeals Shopping Inc., registered in Delaware, bid almost $14 million.

Necco said in March is will close and lay off hundreds of workers if a buyer isn't found.

Information from: The Boston Globe, http://www.bostonglobe.com

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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