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BUSINESS NEWS MANUFACTURING CONFECTIONER — Global Source for Chocolate, Confectionery and Biscuit Information

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BUSINESS NEWS MANUFACTURING CONFECTIONER — Global Source for Chocolate, Confectionery and Biscuit Information August 2018 BUSINESS NEWS MANUFACTURING CONFECTIONER — Global Source for Chocolate, Confectionery and Biscuit Information Various Necco assets to be liquidated The majority of assets belonging The equipment to produce to New England Confectionery these brands is now available. Co. (Necco) in Revere, Massa - Included in the sale are enrobing chusetts, will be liquidated in lines, starch moguls, coating pans, coming months. chocolate tanks, cut-and-wrap Union Confectionery Machin - lines for taffy and toffee, flow ery has been named as the exclusive wrappers, liquid and dry storage liquidator for this project. tanks and other machinery. Round Hill Investments pur - Necco Wafers, Sweethearts and chased Necco early this summer. Canada Mints are unavailable The intellectual property avail - for sale. able for immediate sale includes Any intellectual property or ma - Mary Jane, Mighty Malts, Haviland chinery that remains unsold by sum - Thin Mints, Candy Buttons, Clark mer’s end will be sold at public auc - Bar, Slap Stix and Banana Splits tion on site and simulcast online Companies in the News rd Arcor . 8 confectionery brands. during the week of September 23 . BDSI . 10 Boulder Brands . 11 Carrefour . 9 Strategic Alliance formed to address U.S. food policy CNFA . 9 Mars, Incorporated; Nestlé USA; • Consumer Transparency Cocoa Assoc. of Asia . 10 Unilever United States; and • Environment Commercial Assoc. of Bahia . 10 Danone . 7 Danone are among the companies • Food Safety European Cocoa Association . 10 that have begun Sustainable Food • Nutrition FCIA . 9 Policy Alliance, an organization fo - • People and Communities Hi Europe . 9 In their joint statement, the com - Highlander Partners . 8 cused on driving progress in public Jelly Belly Candy Co. 9 policies and how policy impacts panies’ representatives said, “The Lindt & Sprüngli . 10 health, communities and the planet. Sustainable Food Policy Alliance Mars, Inc. 7 These four firms have been col - was founded on the principle that National Confectioners Assoc. 10 Nestlé . 7, 11 lectively and voluntarily advancing food companies can and should New England Confectionery Co. 7 issues such as sodium reduction, be doing more to lead and drive Perfetti van Melle . 10, 11 eliminating artificial colors and positive policy action for the peo - Quadrant Private Equity . 11 flavors, responsible marketing and ple who buy and enjoy the foods Queen City Candy . 8 Retail Confectioners International . 8 transparency as well as reducing and beverages we make, the people Round Hill Investments . 7 impact on the planet. who supply them, and the planet. So.Bio . 9 The Sustainable Food Policy Al - At launch, two important pol - Sunrise Strategic Partners . 11 icy areas the Alliance intends to Unilever United States . 7 liance companies will prioritize Union Confectionery Machinery . 7 U.S. public policy advocacy and engage on are nutrition labeling Webcor Group . 8 action in five key areas: and carbon emissions. The Manufacturing Confectioner • August 2018 7.
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    CHESTO MEANS BUSINESS Necco dispute clears hurdle in bankruptcy court By Jon Chesto Globe Staff, July 24, 2019, 8:25 p.m. The NECCO factory in Revere. (ARAM BOGHOSIAN FOR THE BOSTON GLOBE) The Sky Bar, Sweethearts, and Candy Buttons all have new owners, as does the shuttered Necco factory in Revere that had once churned out a sea of confections that would make Willy Wonka proud. But the roughly $10 million left over from the sale of Greater Boston’s last great candy maker? That remains untouched amid a dispute between a bankruptcy trustee and Necco’s former parent company. The trustee, Harold Murphy, just won a significant victory in US bankruptcy court in Boston. Judge Melvin Hoffman essentially denied nearly every effort by Necco’s former parent firm, Ares Capital, to dismiss a case brought by Murphy. Ares had acquired a previous private-equity owner of Necco, ACAS. The case now moves forward, with a trial expected next year. Murphy has sued Ares, claiming the investment firm and its predecessor piled debt onto the Necco business while running the once massive candy empire into the ground. Murphy wants Necco’s former suppliers and other unsecured creditors to be fully reimbursed for the bills left unpaid by the candy company’s demise last year, a figure that totals at least $20 million. Murphy is trying to persuade the judge to knock Ares from its position as first in line for the proceeds from the Necco sale. (Ares was a secured creditor as well as the former owner.) He also claims that ACAS enriched itself from Necco over the years, even as the candy business bled tens of millions.
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  • Gluten Free Candy List “ROCK”TOBER 2007
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