Yankee Candle to be Sold for $1.75 Billion
South Deerfield, Massachusetts-based company Yankee Candle was sold Tuesday for $1.75 billion to the Jarden Corporation.
Yankee Candle has changed hands several times since its founder, Michael Kittredge sold the company in 1998. Reuters reported in March that Yankee Candle's current owner, Madison Dearborn, was selling the company.
The sale to Jarden, which also owns brands like Mr. Coffee and Crock-Pot, will allow for growth in Yankee Candle's production and international sales, according to President and CEO Harlan Kent. But Kent says little will change at the Deerfield headquarters.
"It really is business as usual for us," says Kent. "The fourth quarter of the year is the biggest and most important for us and we're starting that as we speak."
Kent says Yankee Candle employs about 1,600 people in western Massachusetts, and will continue to produce 70 percent of its products in the region.
Deerfield's Interim Town Administrator Wendy Foxmyn says the move seems good for the future of the company, and the town of Deerfield.
The sale is expected to be finalized early in the fourth quarter of this year.