Investors buy out Necco candy company

REVERE, Mass. The New England Confectionary Co., makers of Necco wafers and Sweethearts Conversation Hearts, has been sold to a group of investors.

American Capital Strategies said it partnered with Clear Creek Capital and Necco’s chief executive Dominic Antonellis in the deal. Real estate records show that Revere-based Necco last week sold its land to Maryland-based American Capital Strategies for $15 million dollars. The rest of the terms of the deal weren’t disclosed.

Antonellis said in a statement that the acquisition shows a strong commitment to the business, its customers and its employees.