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.
Interbrand to lead design, packaging initiatives for Wrigley
CINCINNATI Interbrand today announced that its Cincinnati arm will lead the design and packaging initiatives for chewing gum giant Wm. Wrigley Co. of Chicago.
Ronny Kastner, executive director of the Cincinnati account management team, will serve as the Wrigley global relationship manager for the new account.
Wrigley Co., with global sales of $4 billion, produces and distributes 16 international brands and owns such chewing gum brands as Doublemint, Big Red, Winterfresh, Extra, Eclipse, Orbit and Excel, as well as confections that include mints, breath strips and candies. The company had 2007 revenues of $4.6 billion and an average two-year revenue growth of 13.3 percent, according to Bloomberg.
The Cincinnati office of Interbrand, which employs more than 100 at offices in Norwood at the Smith Road exit of I-71, expects the account to bring new jobs to its local division. Kastner led the pitch to be the single global packaging design agency for the Wrigley account.
“We are thrilled, as more than 12 agencies were at the start of the process,” Kastner said.
Nike, Coke ring in the New Year with call to fitness ads
NEW YORK Nike and Coca-Cola are joining the bandwagon of the fitness advertisement surge which backs the most frequent New Year’s resolution—getting in shape.
Nike and Coca-Cola today announced a two-year deal, beginning Tuesday, with fitness network Exercise TV. The deal for undisclosed terms will place Coke’s Enviga green tea and brand images on some of the channel’s workout shows and create original Enviga programming. Enviga claims to help burn calories by speeding up metabolism with green tea extracts and caffeine.
Nike returns as a title sponsor for MTV’s New Year’s celebration and will kick off a fitness ad campaign around its “No Excuses” theme. “There’s no better way to deliver an inspiring message of health and fitness for the new year to the youth of America than through MTV,” said Nike spokesman Dean Stoyer.
Trend-watcher Marian Salzman at ad agency JWT stated that Coke and Nike are seizing a good opportunity to offer people a positive, action-oriented message as they try to move on from 2007’s credit crunch, housing slump, declining dollar and other woes.