RYE, NY-Its portfolio already brimming with leading brands in niche markets, locally based Jarden Corp. on Tuesday said it's making its largest acquisition to date with a $1.75-billion deal for Yankee Candle Co., including YCC's network of 561 owned and operated retail stores across the US and Canada. The candle maker's current ownership, a fund managed by Chicago-based Madison Dearborn Partners, acquired the company in 2007 for $1.4 billion, including the assumption of $300 million in debt. The sale to Jarden is expected to close in the fourth quarter.

Martin Franklin, Jarden's founder and executive chairman, calls the deal for South Deerfield, MA-based YCC “a natural extension” of his company's existing portfolio and its branded consumables business segment in particular. The acquisition of the 43-year-old YCC could boost the branded consumables' share of Jarden's business to 35% of sales.

“As our first significant acquisition since April 2010, Yankee Candle embodies all of the characteristics of our market-leading brands, while offering a compelling financial and strategic value proposition,” says Franklin. Among those brands are Ball mason jars; Coleman outdoor products; Health o Meter digital scales; and Sunbeam and Mr. Coffee kitchen appliances.

For YCC, the sale offers opportunities “to share best practices and technology, partner with their go to market teams, cross market with their 120 plus leading brands and leverage their global scale and presence to continue to grow our international business,” says YCC's president and CEO, Harlan Kent. “We also look forward to continuing to open new Yankee Candle stores; growing our wholesale, consumer direct and fundraising businesses; and leveraging our brand strength.”

Along with its base of company owned and operated retail locations, YCC also sells through a North American wholesale customer network of approximately 35,000 stores, direct mail catalogs and its website. Outside of North America, YCC sells its products mainly through its Yankee Candle Company (Europe) Ltd. subsidiary, which has an international wholesale customer network of about 6,400 store locations and distributors in 57 countries.