Deals
Only Candy-Eating Rats Survived Private Equity’s Necco Takeover
- Necco, maker of Clark Bars and Mary Janes, now shut down
- Excessive debt, changing tastes, bad management did it in
Photographer: Charles Krupa/AP Photo
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If the world isn’t already in enough flux, consider this sad fact: For the first time ever, Halloween trick-or-treaters may have a hard time getting their hands on Clark Bars or Mary Janes this year.
New England Confectionery Company (Necco), the Massachusetts-based candy manufacturer behind a slew of iconic brands dating to the 19th century, shut down after filing for bankruptcy. The good news for patient fans is that Clark Bars and Mary Janes, as well as the popular Sweethearts, are expected to return over the next two years under different companies. But how America’s oldest candy manufacturer reached this end shows again the difficulty of sustaining a popular consumer brand.