Yankee Candle sold for $1.75 billion - wave3.com-Louisville News, Weather & Sports

Yankee Candle sold for $1.75 billion

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SOUTH DEERFIELD, MA (WSHM) -

Yankee Candle Company announced Tuesday that it was sold to the Jarden Corporation for $1.75 billion.

"They are a great growing business, we're a good very solid growing business and now it's an opportunity for us to put those two things together and figure out how to accelerate that growth, said Yankee Candle's CEO Harlan Kent.

Kent called the sale a new chapter for the South Deerfield-based company.

"It provides opportunities for us. We've grown the business and have been growing for the past several years and this is an opportunity for us to figure out new ways to grow together and take advantage of our new partner," said Kent.

The 43-year-old company is being sold from the Madison Dearborn Partners to the Jarden Corporation. The deal which Kent says has only been in the works a matter of months also includes up to $55 million in additional payments based on the company's performance.

Jarden has many well-known brands including Crock-Pot and Mr. Coffee.

"As far as for our employees, it's business as usual in terms of how we are going to approach it. We are going into our most important time of year," said Kent.

Kent says the management at Yankee Candle will stay the same, but he did say that consumers can expect to see the brand popping up in more places.

"Jarden has got a lot of great brands, they sell in a lot of the same places as we do. I think if anything you're going to maybe see some pretty interesting new cross marketing," said Kent.

The company's CEO says the sale will be official in a matter of weeks.

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