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Acquisitions
9 Months Ended
Sep. 30, 2013
Acquisitions

2. Acquisitions

On October 3, 2013, the Company acquired Yankee Candle Investments LLC (“Yankee Candle”), a leading specialty-branded premium scented candle company (the “YCC Acquisition”). The total value of the YCC Acquisition, including debt assumed and/or repaid, was approximately $1.8 billion, subject to adjustment. The initial cash purchase price was approximately $523. In addition to the initial cash purchase price payment, contingent purchase price payments of up to $55 may be paid based on the future financial performance of the acquired business. The estimated fair value of this contingent consideration will be included in the purchase price allocation. The YCC Acquisition is expected to extend the Company’s portfolio of market-leading, consumer brands in niche, seasonal staple categories, while creating opportunities in cross-selling and broadening the global distribution platform. Yankee Candle will be reported in the Company’s Branded Consumables segment and will be included in the Company’s results of operations from October 3, 2013. Supplemental pro forma information and the preliminary purchase price allocation have not been provided as estimates of the fair value of the assets acquired and liabilities assumed have not been completed.