Report: Yankee Candle to Be Sold
SOUTH DEERFIELD, Mass. (WGGB) — Published reports indicate that Yankee Candle, one of the area’s largest employers, may be up for sale.
Reuters is reporting that the Chicago-based private equity company that owns the candle company is working with Barclays and Bank of America to put Yankee on the market.
Even Franklin County’s Chamber of Commerce President Ann Hamilton is fuzzy on the details that Yankee Candle is possibly being sold. “Well, all I know is what I heard from the news today, and what I know is what I know, if it’s true, then I’m not particularly concerned about it,” she said.
Hamilton also notes these kinds of discussions aren’t anything new. “This type of thing has happened before. They’ve been seamless, people have worked there for many, many years, they are an excellent employer, an excellent corporate citizen and they must be very valuable if someone is trying to sell it,” she said.
Hamilton notes that Yankee Candle is a big part of the local economy, bringing in millions of visitors each year which helps out local restaurants and other attractions.
Madison Dearborn Partners paid $1.6 billion for the company in 2006.
1,600 people work at Yankee Candle’s headquarters in South Deerfield and it’s factory in Whately.
Last year, the company made nearly $850 million.
Yankee Candle spokesperson Karen Woods tells ABC40 that the company does not comment on rumors.