Dive Summary:

• Jarden Corp. has reached a deal with private equity firm Madison Dearborn Partners to buy Yankee Candle Co. for $1.75 billion.
• The acquisition comes after Madison Dearborn put Yankee Candle, the biggest scented candle company in the U.S., on the market for $2 billion earlier this year.
• ​Oppenheimer & Co analyst Joseph Altobello said, "Strategically, [the Yankee Candle acquisition] fits well with Jarden's strategy of buying niche, seasonal, staple consumer brands, and should provide a number of cross-selling opportunities over time."

From the article:

Yankee Candle, which also sells home fragrance products, car fresheners and candle accessories, was acquired by Chicago-based Madison Dearborn for $1.6 billion in 2006 and put up for sale earlier this year.

Other private equity firms balked at Madison Dearborn's price tag of at least $2 billion. If Madison Dearborn did not find a buyer, it had planned to float Yankee Candle in the stock market.