Necco Sale Prompts Transfer of Revere HQ

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REVERE, MA-The pending sale of a Massachusetts business icon has resulted in a series of real estate maneuvers at the company’s 820,000-sf headquarters and candy making factory here on American Legion Highway. The New England Confectionery Co., better known as Necco, is being acquired by a Maryland company for an undisclosed price.

While acknowledging that his company has agreed to buy Necco from parent company UIS Inc., American Capital Strategies VP Jeffrey Anapolsky would not discuss the matter in detail with GlobeSt.com, or decipher the multiple real estate moves related to the acquisition. In advance of the final agreement, Necco has transferred the rights to 101 and 135 American Legion Hwy. to trusts established by ACS. The total price consideration was $15 million, backed by a $35.5-million mortgage from another ACS affiliate. In turn, Necco struck a lease with ACS that could extend its occupancy by 15 years via a series of one-year options commencing this month.