Jarden to Buy Yankee Candle for $1.75B

Source:  

Jarden Corp, known for its Mr. Coffee brand, said it entered an agreement to acquire scented candle maker Yankee Candle Co Inc for $1.75 billion from a fund managed by private equity owner Madison Dearborn Partners LLC failed to sell for a higher price earlier this year.

Jarden, which sells Crock-Pot slow cookers and Sunbeam electric blankets, said on Tuesday it would fund the transaction with cash, common equity and a mix of bank debt and bonds.

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