Breaking News

Yankee Candle Acquired

November 3, 2006

Madison Dearborn Partners LLC, a private equity firm, will pay about $1.4 billion in cash to acquire Yankee Candle, South Deerfield, MI. Including assumed debt, the deal is worth about $1.7 billion.
Under terms of the agreement, Yankee Candle shareholders will receive $34.75 per share in the deal, which is expected to close in the first quarter. On Oct. 24, Yankee’s share price closed at $28.72.
The price is a premium of more than 57% to the company’s closing price on July 25, the day before the company said it was considering strategic alternatives such as a sale. Madison Dearborn is based in Chicago.
Yankee Candle also said that third quarter sales rose 17% to nearly $160 million, but net income declined 3% to $14.9 million. Yankee Candle had sales of $601 million in 2005 and was ranked No. 22 in The Top 50, Happi’s annual look at the leading U.S. companies in the household and personal products industry.
blog comments powered by Disqus
  • Pushin’ the Cushion

    Pushin’ the Cushion

    Christine Esposito, Associate Editor||July 26, 2016
    AmorePacific, the creator of the cushion compact, continues to improve its unique product.

  • Cozy Makes a Splash

    Cozy Makes a Splash

    Melissa Meisel, Associate Editor||July 25, 2016
    Expands reach in CVS and introduces new collection.

  • Senior Skin Care

    Senior Skin Care

    Christine Esposito, Associate Editor||July 19, 2016
    McCord Research and Product Quest Manufacturing roll out new hospital-grade skin care kits for seniors to use at home.

  • Sustainability is Omnipresent

    Sustainability is Omnipresent

    Christine Esposito , Associate Editor||July 1, 2016
    Industry stakeholders convene in New York City for Organic Monitor’s annual event

  • Perceived Perfection

    Perceived Perfection

    Christine Esposito, Associate Editor||July 1, 2016
    From primers to pressed powders, facial cosmetics help create the illusion of a flawless complexion.

  • Preserve & Serve

    Preserve & Serve

    Melissa Meisel , Associate Editor||July 1, 2016
    Suppliers with innovative preservatives provide staying power for formulations.