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Madison Dearborn to exit Yankee Candle for $1.75bn

3 Sep 2013

Madison Dearborn-backed candle and air freshener maker Yankee Candle is to be sold to US consumer products company Jarden Corp for $1.75bn, the Wall Street Journal has reported.

The private equity firm bought Yankee Candle for $1.6bn in 2006. In June of this year the firm said it would no longer seek to refinance the company in order to pay itself a dividend after its plans for a buyout appear to have stalled.

After initially attracting interest from buyout firms including Advent International, CVC Capital Partners, Clayton Dubilier & Rice and Ares Management, Bain Capital was said to be the last remaining bidder, though a deal was not able to be reached.

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