Jarden Corp. (NYSE: JAH), maker of the Mr. Coffee machines, is set to buy The Yankee Candle Co. Inc. for $1.75 billion from a fund managed by private equity firm Madison Dearborn Partners LLC.
Jarden, based in Rye, N.Y., is also known for selling Health-o-Meter scales.
The transaction is slated to close in the fourth quarter.
Jarden expects the deal to boost adjusted earnings per share by about 10 percent. The company's 2012 sales growth crawled to a gain of just 0.2 percent after increasing 11 percent in 2011.
In addition to making and selling scented candles, Yankee Candle is known for manufacturing various household items, including candleholders, accessories and dinnerware. The company is headquartered in South Deerfield, Mass.
Madison Dearborn invested in Yankee Candle in 2007 for about $1.4 billion.
Bank of America Merrill Lynch and Barclays plc advised Yankee Candle. Michael Paley, Tana Ryan and Rachel Cantor of law firm Kirkland & Ellis LLP provided legal counsel.