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Twinkie Maker Saves Necco Wafers

The company that once rescued the Twinkies brand is now taking over the maker of Necco Wafers. The family business of billionaire Dean Metropoulos announced Friday it paid $17.3 million for the New England Confectionery Co. It's a surprise ending to a federal bankruptcy auction that initially left Necco to an Ohio company. Metropoulos' firm previously bought Twinkies maker Hostess out of bankruptcy in 2013.

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