Former CEO announces bid to save Necco candy maker from closure - WKOW 27: Madison, WI Breaking News, Weather and Sports

Former CEO announces bid to save Necco candy maker from closure

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REVERE, Mass. (ABC) -- The maker of the colorful Necco Wafers has experienced a surge in sales since announcing it might close unless it finds a buyer, and now a former CEO may be coming to the rescue.

Necco, which stands for New England Confectionery Company, announced in March that 395 workers could be laid off if no buyer is found. That triggered a buying spree by wafer lovers.

The Boston Globe reports 23-year-old Katie Samuels, of Florida, reached out to candy wholesaler Candystore.com to offer her 2003 Honda Accord for their wafer inventory. Samuels has childhood memories of playing church and pretending the candies were communion.

On Monday, Candystore.com announced that former Necco CEO Al Gulachenski would make an attempt to buy the candy maker.

Necco today faces some challenges, but Gulachenski says they’re solvable, according to a news release from Candystore.com. 

He also wants to keep as many of the current employees as possible, and to bring back the executive team that worked with him last time to make Necco successful.

In order to do this the right way, Gulachenski needs a total of $30 million. He plans to raise $5-10 million himself and crowdfund the remaining $20 million from his GoFundMe Page.

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