Global consumer products company Jarden Corporation has completed its acquisition of premium scented candle specialist The Yankee Candle Company for $1.75 billion in cash.
Yankee Candle Company said: “With the sale transaction now complete, Jarden Corporation takes the Yankee Candle brand into the future, opens new doors, and shares best practices including technology and marketing, all providing the best long term growth platform for the Yankee Candle business.”
It stressed that for the European HQ operation, “it’s business as usual. The brand will continue to lead the home fragrance market and deliver the same consumer-loved products to market. As the strength of the brand continues, so does the team supporting its success. 2013 has seen investment in 40 new team members at the Avonmouth premises and with 2014 fast approaching, this figure is set to increase.”
Yankee Candle president John Fontana said: “We’re excited about the future opportunities that Jarden will offer us as a brand. We do know that it opens tremendous leverage to increase our presence in Asia and the continent.
“The uncertainty is over for Yankee Candle, and we have phenomenal growth opportunities with stronger platforms, stronger teams, and stronger knowledge to deliver this much loved brand globally.”