PARIS — Jarden Corp. said it has entered into a definitive purchasing agreement to acquire Yankee Candle for approximately $1.75 billion from private equity firm Madison Dearborn Partners.
Funding for the transaction is expected to come from cash, common equity plus a mix of bank debt and bonds.
“The transaction will extend Jarden’s portfolio of market-leading, consumer brands in niche, seasonal staple categories, while creating opportunities in cross-selling, broadening the global distribution platform and deepening Jarden’s talent bench,” the consumer products concern said in a statement.
After the transaction’s close, Jarden would have pro forma net sales of about $7.7 billion in the year ended June 30.
Forty-three-year-old Yankee Candle sells its products in more than 50 countries.
In fall 2012, Yankee Candle opened a new studio in Manhattan’s Chelsea neighborhood and began working with creative director Patti Carpenter.