Yankee Candle and Madison Dearborn Partners Announce Completion of Merger.

SOUTH DEERFIELD, Mass. -- The Yankee Candle Company, Inc. ("Yankee" or the "Company"; NYSE:YCC) today announced the completion of the merger of Yankee with an affiliate of Madison Dearborn Partners, LLC, a leading private equity firm. The total transaction is valued at approximately $1.6 billion, including the assumption of existing indebtedness.

The Company also announced today the closing of a $325 million Senior Notes offering due 2015, a $200 million Senior Subordinated Notes offering due 2017, and $775 million of new Senior Secured Credit Facilities, which were used to partially fund the merger.

"We are pleased that this transaction has been completed and we very much look forward to our partnership with Madison Dearborn," said Craig Rydin, Chairman and Chief Executive Officer of the Company. "On behalf of the entire senior management team, we are focused on continuing to profitably grow our business and the Yankee Candle brand and are confident that, working with Madison Dearborn and our dedicated employees, we can together take Yankee Candle to the next level of its exciting growth story."

"We are excited to be partnering with Craig and the Yankee Candle management team," said Rob Selati, Managing Director of Madison Dearborn Partners, LLC. "We share Yankee's vision of growth and are looking forward to working together to unlock the full potential of the Yankee Candle brand."

On January 23, 2007 stockholders of YCC approved the proposed merger agreement providing for the merger of YCC with an affiliate of Madison Dearborn Partners, LLC, with over 99% of the shares present and voting at the meeting voting in favor of the proposed merger. Under the terms of the merger agreement, YCC stockholders received $34.75 in cash, without interest, for each share of YCC common stock held.

As a result of this transaction Yankee's common stock will be delisted from the New York Stock Exchange effective prior to the open of trading tomorrow. Yankee has appointed Computershare Trust Company, N.A., as paying agent. Stockholders of Yankee who possess stock certificates will receive instructions and a letter of transmittal by mail from Computershare concerning how and where to surrender the stock certificates that they hold for payment. Stockholders who hold shares in "street name" through a bank, broker or other nominee will not have to take any action to have their shares converted into cash as such conversions will be handled by the bank, broker or other nominee. Questions about the deposit of merger proceeds should be directed to the appropriate broker, bank or other nominee or to Computershare.

About Yankee Candle

The Yankee Candle Company, Inc. is the leading designer, manufacturer, wholesaler and retailer of premium scented candles, based on sales, in the giftware industry. Yankee has a 37-year history of offering distinctive products and marketing them as affordable luxuries and consumable gifts. The Company sells its products through a North American customer network of approximately 17,400 store locations, a growing base of Company owned and operated retail stores (420 located in 43 states as of December 30, 2006 including 16 Illumination Stores), direct mail catalogs, its Internet websites (www.yankeecandle.com, www.aromanaturals.com and www.illuminations.com), international distributors and to a European customer network of approximately 2,500 store locations (through its distribution center located in Bristol, England).

About Madison Dearborn Partners, LLC

Madison Dearborn Partners, based in Chicago, is one of the largest and most experienced private equity investment firms in the United States. MDP has more than $14 billion of equity capital under management, and makes new investments through its most recent fund Madison Dearborn Capital Partners V, L.P., a $6.5 billion fund raised in 2006. MDP focuses on management buyout transactions and other private equity investments across a broad spectrum of industries, including basic industries, communications, consumer, financial services, and health care. For more information, please visit the MDP website at www.mdcp.com.