Complex sentence: Presently, the Reed's line is being revived by Iconic Candy Company of New York, who are producing it in three flavors, Butterscotch, Root Beer and Cinnamon.
Split into simpler sentences: Presently, the Reed's line is being revived by Iconic Candy Company of New York. They are in the process of producing three of the favorite flavors, Butterscotch, Root Beer and Cinnamon.