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
  • Long Term Sustainability In the Nonwovens Market

    Long Term Sustainability In the Nonwovens Market

    August 23, 2016
    Learn more at Cleaning Products USA, Nov. 9-11, 2016

  • Fro Yo!

    Fro Yo!

    Tom Branna, Editorial Director||August 22, 2016
    Project Beauty dishes out Hairgurt, a line of vitamin-rich hair shampoos and conditioning masques.

  • TLC for Those Who Need It Most

    TLC for Those Who Need It Most

    Christine Esposito, Associate Editor||August 22, 2016
    New curriculum debuting at Bellus Academy helps estheticians treat a population that needs TLC.