Necco For Sale?

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(credit: Necco)

(credit: Necco)

REVERE, Mass. (AP) — A venerable Massachusetts candy maker has hired an investment banker to find a strategic partner or explore a possible sale.

The New England Confectionary Co. is best known for its Necco Wafers and Sweetheart Conversation Hearts. The 163-year-old Revere firm said in a statement that while it has the ability to continue operating independently, finding a partner would be “the appropriate next step” to take advantage of growth and distribution opportunities.

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Necco said it has retained the New York-based investment banking firm Sawaya Segalas & Co.

While confident it can attract a strategic partner on the right terms, Necco said it was also prepared to continue as a stand-alone company and that production for the holiday season and Valentine’s Day would not be affected.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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