Jarden to buy Yankee Candle for $1.75bn

Published: 4-Sep-2013

Transaction will extend Jarden\'s portfolio of consumer brands in the niche and seasonal staple categories

Consumer products company Jarden Corporation has entered into a definitive agreement to acquire scented candle manufacturer Yankee Candle Investments LLC from a fund managed by private equity firm Madison Dearborn Partners LLC for approximately $1.75bn in cash, subject to working capital and other adjustments. Jarden says the transaction will extend its portfolio of consumer brands in niche, seasonal staple categories, while creating opportunities in cross selling, broadening its global distribution platform and deepening its talent bench. The acquisition of Yankee Candle will expand Jarden's Branded Consumables segment to approximately 35% of combined sales.

Martin E Franklin, Jarden's Founder and Executive Chairman, commented: “We are delighted to announce this acquisition, which is consistent with our more than ten year track record of success in acquiring leading consumer brands synonymous with their niche categories. The iconic Yankee Candle brand is a natural extension of our existing portfolio and of our Branded Consumables business segment. As a successful, well managed and well invested business, Yankee Candle is a solid platform for us to leverage our proven, time tested and portable brand building approach and to drive additional value through investments in brand equity, product development and innovation."

The transaction is expected to close early in the fourth quarter of 2013, subject to customary closing conditions and regulatory approvals.

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