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By PBN Staff
CHICAGO - The Yankee Candle Co., the largest producer of scented candles in the United States, is currently in the preliminary stages of sale by owner Madison Dearborn Partners, the Reuters News Agency reported Monday.
The preparation of the company’s sale is being carried out by its Chicago-based private equity owners in cooperation with Barclays and Bank of America Merrill Lynch, three unnamed sources close to the matter told Reuters, which added that the process is still in the “early stages.”
Representatives of Barclays and Bank of America declined to comment to Reuters on the private process. Madison Dearborn did not immediately respond to the news agency in requests for comment.
Madison Dearborn Partners acquired Yankee Candle, based in Deerfield, Mass., for $1.6 billion in 2006.
In 2012, the company generated unadjusted earnings of $201.1 million and $844.2 million in revenue, selling its products through more than 500 Yankee Candle franchises, online and through its catalog.