Yankee Candle

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Shop in Newport Center Mall, New Jersey

The company Yankee Candle Inc. claims to be the largest manufacturer of scented candles within the United States. The company is headquartered in South Deerfield , Massachusetts .

history

The company's history dates back to 1969, when the then 16-year-old Michael Kittredge made his first candle from melted wax residue as a present for his mother. When asked, Kittredge produced more of its handmade candles and began selling them.

With the help of his high school friends Donald MacIver and Susan Obremski, he founded the Yankee Candle company. The first small factory was built in Holyoke, Massachusetts, with the support of Susan Obremski's father. In 1975 the first Yankee Candle Shop was opened. In 1983 the company moved to its current headquarters in South Deerfield.

When Michael Kittredge fell ill with cancer in 1993, he passed the company on to a friend and colleague. In 1998 he sold the Yankee Candle Company to New York private equity firm Forstman Little for $ 500 million. Forstman Little listed the company on the New York Stock Exchange in 1999. Yankee Candle now employs around 5,500 people in the USA.

In 2006, Yankee Candle bought Illuminations. In 2009 an online shop was opened in the USA for both brands.

In February 2007, the Yankee Candle Company Inc. was sold to the private equity group Madison Dearborn Partners LLC for approximately USD 1.75 billion.

Company and products

Area in front of the Candle Making Museum
Interior view of the Yankee Candle Shop in the Newport Center Mall in Jersey City , New Jersey

In the United States, Yankee Candle now operates over 500 of its own shops, including some flagship stores with around 10,000 m² of retail space. Yankee Candle scented candles are also available from nearly 20,000 external outlets across the United States.

The Yankee Candle scented candles and other scented articles are offered in different versions. Yankee Candle scented candles are now available in every Western European country. Products available online are only sold by authorized dealers.

The entire European market is supplied centrally via the English branch of Yankee Candle in Bristol.

literature

  • Kittredge. "Yankee Candle Catalog." Introduction to Yankee Candle. Comp. Susan Kittredge. Holyoke: Marcus Printing, 1975.
  • MacIver, Donald. Telephone interview. November 10, 2006.
  • A Day of Production at Yankee Candle. Dir. Obremski. Perf. Various. 35 mm slides. Yankee Candle in-store video monitors, 1975.
  • Carl Warren, James Reeve Corporate Financial Accounting

Web links

Individual evidence

  1. ↑ Historical Timeline . Archived from the original on February 13, 2007. Retrieved August 6, 2007.
  2. ↑ a b c David Whelan: Letting Go . In: Forbes , January 11, 2004. Retrieved August 6, 2007. 
  3. ^ Yankee Candle Profile - BostonJobSource.com
  4. ↑ a b c d e The Yankee Candle Company, Inc. Agrees to Acquire the Illuminations Brand . Retrieved on August 6, 2007  ( page no longer available , search in web archives )@1@ 2Template: Dead Link / phx.corporate-ir.net
  5. ↑ Serena Ng: Yankee Candle Agrees to $ 1.75 Billion Deal (English) . In: The Wall Street Journal , Dow Jones & Company, Inc., September 3, 2013. Retrieved March 25, 2014. 
  6. ^ Greg Roumeliotis: Jarden to buy Yankee Candle for $ 1.75 billion . In: Reuters , Thomson Reuters, September 3, 2013. Retrieved March 25, 2014. 
  7. ^ Yankee Candle sold for $ 1.75b to consumer products firm