ETF News

Yankee Candle's owners explore sale, hire banks -sources

NEW YORK, March 11 (Reuters) - Yankee Candle Co Inc , the largest scented candle company in the United States, is being prepared for a sale by its private equity owner, three people familiar with the matter said on Monday.

The company, which was acquired by Chicago-based buyout firm Madison Dearborn Partners for $1.6 billion in 2006, is working with Barclays and Bank of America Merrill Lynch on a sale process that is still in the early stages, the people said.

The people asked not to be named because the process is not public. Representatives of Barclays and Bank of America declined to comment. Madison Dearborn did not immediately respond to requests for comment.

Founded in 1969, Yankee Candle sells items like scented candles, home fragrance products, car fresheners and candle accessories. The company sells its candles through 500 company-owned retail stores as well as online and through its catalog.