Jarden Corp. to buy Yankee Candle
Rye, N.Y.-based consumer products company Jarden Corp. announced Tuesday that it has entered into a definitive purchase agreement to acquire Yankee Candle Investments LLC for about $1.75 billion in cash.
According to Jarden, the transaction will extend Jarden’s portfolio of consumer brands in niche, seasonal staple categories, while creating opportunities in cross-selling, broadening the global distribution platform, and deepening Jarden’s talent bench.
As an addition to Jarden’s Branded Consumables segment, Yankee Candle will balance Jarden’s portfolio, expanding this segment to approximately 35% of combined sales. The transaction isexpected to be funded with cash on hand, common equity and the balance through a mix of bank debt and bonds.
Yankee Candle has delivered consistent organic growth that is in line with Jarden’s overall top-line growth profile of 3%-5%, as well as strong margins and solid cash flow.
Other Jarden brands include Grill Master, Sunbeam, Mr. Coffee, First Alert, Coleman and dozens of others.