is to acquire Yankee Candle from Madison Dearborn Partners for $1.75 billion. The transaction is expected to close early in the fourth quarter of 2013. Yankee Candle's Fall 2013 collection is pictured above. The company has 562 stores in the U.S. and Canada.
Harlan Kent, President and Chief Executive Officer of Yankee Candle, said in a statement, "This is an exciting opportunity for Yankee Candle to join a company that shares our passion for brand building, product quality, and customer service. In joining the Jarden family of companies, we open the door to opportunities to share best practices and technology, partner with their go to market teams, cross market with their 120 plus leading brands, and leverage their global scale and presence to continue to grow our International business. We also look forward to continuing to open new Yankee Candle stores, growing our Wholesale, Consumer Direct, and Fundraising businesses, and leveraging our brand strength, unparalleled reputation for quality and 'Made in America' heritage. I am very proud of our Yankee Candle team and their proven ability to create scentsational customer experiences, and deliver industry leading financial performance. I don't expect us to change this winning formula, and am excited to work with our new partners on continuing to grow this wonderful business."
Yes, he did use the made-up word "scentsational" in the announcement
. Yankee Candle will join Jarden's many other brands, which include Billy Boy, Coleman, Crock-Pot, Marmot, Mr. Coffee, Nuk and Oster.
Photo: Yankee Candle