Sales: $800 million (estimated) for candle and home fragrance products. Corporate sales: $7.3 billion. Net income: $203 million.
Key Personnel: Martin E. Franklin, founder and executive chairman; Ian G.H. Asken, co-founder, vice chairman, president and chief financial officer; James E. Lillie, chief executive officer; Harlan Kent, president and chief executive officer, Yankee Candle.
Major Products: Candles and home fragrance products marketed under the Yankee Candle brand name.
New Products: Man Candles III (Camouflage and On Tap), Peeps Marshmallow Chicks, and Dream Garden, Escape, Snow Globe and Fan Candle Collegiate Collections.
Comments: What do baseball gloves, coffee machines and candles have in common? All of them are owned by Jarden Corporation, a consumer products company that paid $1.75 billion in cash last year to acquire Yankee Candle and add it to its roster of brands that already includes Rawlings and Mr. Coffee.
“This is an exciting opportunity for Yankee Candle to join a company that shares our passion for brand building, product quality, and customer service,” said Harlan Kent, president and chief executive officer, Yankee Candle. “In joining the Jarden family of companies, we open the door to opportunities to share best practices and technology, partner with their go to market teams, cross market with their 120-plus leading brands, and leverage their global scale and presence to continue to grow our international business. We also look forward to continuing to open new Yankee Candle stores, growing our wholesale, consumer direct, and fundraising businesses, and leveraging our brand strength, unparalleled reputation for quality and ‘Made in America’ heritage.”
Jarden’s been made in America, too. And made in a hurry at that. The company is an amalgam of more than 120 brands—many of them No. 1 or 2 in their category. The company was founded in 2001, corporate sales totaled $368 million in 2002 and have risen at a CAGR of 31% by following eight key attributes:
- Strive to be better;
- Retain and develop the best talent;
- Support the individual, but encourage teamwork;
- Think lean, act large;
- Listen, learn and innovate;
- Deliver exceptional financial results;
- Have fun, work hard and execute; and
- Enhance the communities in which we operate.