US consumer products company Jarden Corp has agreed to buy scented candle maker Yankee Candle Company for $1.75 billion, the Wall Street Journal reported, writes Reuters. Jarden is buying the company from private equity firm Madison Dearborn Partners, which acquired Yankee Candle for $1.6 billion in 2006.
Reuters – U.S. consumer products company Jarden Corp (JAH.N) has agreed to buy scented candle maker Yankee Candle Company Inc MDPRTC.UL for $1.75 billion, the Wall Street Journal reported, citing people familiar with the matter.
Jarden, whose products range from Sunbeam electric blankets and Crock-Pots to Coleman camping gear and Marmot clothing, is buying the company from private equity firm Madison Dearborn Partners LLC, which acquired Yankee Candle for $1.6 billion in 2006.
Jarden is expected to fund the purchase with a combination of cash, debt and stock, the Journal said, adding that the deal is expected to be announced on Tuesday. (link.reuters.com/nus72v)
Jarden and Madison Dearborn could not be reached for comment by Reuters outside of usual business hours.
(Reporting by Krithika Krishnamurthy in Bangalore; Editing by Miral Fahmy)
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