Market Overview

Jarden Reaches Deal to Buy Yankee Candle for $1.75B

Share:
Related JAH
Earnings Scheduled For July 29, 2015
Benzinga's M&A Chatter for Monday July 13, 2015
Jarden (JAH) Q2 2015 Results - Earnings Call Webcast (Seeking Alpha)

Jarden Corporation ("Jarden" or the "Company") (NYSE: JAH), a leading global consumer products company, announced today that it has entered into a definitive purchase agreement to acquire Yankee Candle Investments LLC ("Yankee Candle"), a leading specialty-branded premium scented candle company in the United States, from a fund managed by Madison Dearborn Partners, LLC, a private equity firm, for approximately $1.75 billion in cash, subject to working capital and other adjustments.

The transaction will extend Jarden's portfolio of market-leading, consumer brands in niche, seasonal staple categories, while creating opportunities in cross-selling, broadening the global distribution platform, and deepening Jarden's talent bench. Upon closing the transaction, Jarden would have pro forma net sales and adjusted EBITDA of approximately $7.7 billion and $1.0 billion, respectively, for the twelve months ended June 30, 2013. As an addition to Jarden's Branded Consumables segment, Yankee Candle will further balance Jarden's portfolio, expanding this segment to approximately 35% of combined sales. The transaction is expected to be funded with cash on hand, common equity and the balance through a mix of bank debt and bonds.

Posted-In: News M&A

 

Related Articles (JAH)

Get Benzinga's Newsletters