10.02.17
Newell Brands Inc., home to Yankee Candle, has entered into a definitive agreement to acquire Chesapeake Bay Candle from its founders in a deal valued at $75 million.
Based in Rockville, MD, Chesapeake Bay Candle is a leading developer, manufacturer and marketer of premium candles and other home fragrance products, focused on consumer wellness and natural fragrance. The company is a fast-growing business, with annual net sales of approximately $55 million.
The acquisition will be reported as part of Newell Brands’ “Live” segment.
The transaction is subject to customary closing conditions and will be funded from cash on hand at the time of closing, which is expected to occur in the fourth quarter of 2017.
Chesapeake Bay Candle is part of Pacific Trade International, which has a factory in Glen Burnie, MD.
Based in Rockville, MD, Chesapeake Bay Candle is a leading developer, manufacturer and marketer of premium candles and other home fragrance products, focused on consumer wellness and natural fragrance. The company is a fast-growing business, with annual net sales of approximately $55 million.
The acquisition will be reported as part of Newell Brands’ “Live” segment.
The transaction is subject to customary closing conditions and will be funded from cash on hand at the time of closing, which is expected to occur in the fourth quarter of 2017.
Chesapeake Bay Candle is part of Pacific Trade International, which has a factory in Glen Burnie, MD.