Framingham Developer Acquires Candy Company for $54.6 Million

REVERE – Atlantic Management, based in Framingham, has purchased the New England Confectionary Company’s headquarters property in Revere for $54.6 million.

NECCO, the manufacturer of the Sweethearts and other candy, has been headquartered in the City of Revere since 2003, when the company moved from its location in Cambridge.

Atlantic Management and VMD Cos. of Boston will meet with the City of Revere leaders to discuss plans for the 50-acre property, according to Banker & Tradesman.

NECCO’s lease for the property expires on August 31, 2018. NECCO did not return a phone call on its plans.

Founded in 1901, NECCO is considered the oldest continuously operating candy company in America.