First produced in 1847, they became the namesake and core product of the now-defunct New England Confectionery Company (Necco), which operated near Boston, Massachusetts.

[3] During World War II, the United States government ordered Necco to produce its wafers for soldiers overseas.

[6] Round Hill Investments purchased the company out of bankruptcy for $17.3 million in May 2018, but then abruptly ended operations at Necco on July 24, 2018, citing "sanitation issues" it claimed it was previously unaware of.

In September 2018, Spangler announced plans to return the Necco Wafer to the market, initially giving a target date of November 2019.

The lime flavor was removed due to difficulties in creating an all-natural green coloring, resulting in a 7-flavor Necco Wafer roll.

[1] According to Jackie Hague, Necco's vice president of marketing, switching to all-natural flavors and colors "would draw young mothers concerned about their children's diet.

The company received “some complaints about the new formulations.”[1] In response to these concerns, Necco Wafer production switched back to the original formula in the summer of 2011.