Rye-based Jarden Corporation To Acquire Yankee Candle For $1.75 Billion

RYE, N.Y.-- Jarden Corporation, a global consumer products company based in Rye, announced today that it has entered into a purchase agreement to acquire Yankee Candle Investments LLC for approximately $1.75 billion.

Rye-based Jarden Corporation will purchase Yankee Candle Investments for approximately $1.75 billion.
Photo Credit: *Courtesy Wikimedia Commons*

Joe Jenkins

09/05/2013 5:00 a.m.

Upon closing the transaction, Jarden would have pro forma net sales of approximately $7.7 billion for the twelve months ended June 30, 2013.

“Not only will this acquisition immediately enhance our financial performance and create exciting new revenue drivers, but also it will expand the deep bench of talent that we have developed over the years," Jarden Chief Executive Officer James E. Lillie said.

"Our complementary strengths and skill sets pave the way for new cross-selling opportunities, cross-brand collaboration, partnerships and cross-business support, accelerating revenue growth across our global platform and driving long-term shareholder value."

The transaction, which is expected to close early in the fourth quarter of 2013, is subject to closing conditions and regulatory approvals.

Click here to follow Daily Voice Rye and receive free news updates.