Yankee Candle Buys Assets of GBI Marketing

The Yankee Candle Company, Inc., South Deerfield, MA, has acquired all of the assets of GBI Marketing, Inc. for approximately $13.5 million in cash, in which $3 million is contingent upon the achievement of certain performance objectives over the next three years. GBI, Greenfield, MA, distributes select gift products, including Yankee Candle products, to fundraising organizations. GBI’s total sales in fiscal 2003 were approximately $15.7 million.

“Yankee and GBI have enjoyed a long and mutually rewarding business relationship; and we have admired the progress made by the GBI team in developing their company and business model,” said Craig W. Rydin, Yankee’s chairman and chief executive officer. “We believe this is an exciting opportunity to combine the strengths and resources of our two companies to further develop the already successful GBI model and Yankee Candle brand.”