According to a report from Reuters, three people with knowledge of the matter disclosed that Bain Capital, LLC may appear to be the last survivor in the race for Yankee Candle Co, Inc. The sources also added, there is a possibility that the biggest maker of scented candles in the United States will remain under private equity management.

At present, Yankee Candle is owned by Madison Dearborn Partners LLC. Final offers for the scented candle company are set for this week. According to the sources though, other firms that had earlier submitted their bids for the candle company, including Ares Management LLC, Advent International Corp, CVC Capital Partners Ltd and Clayton Rice Dublier & Rice LLC had are gone cold feet.

Depending on the outcome, Yankee may not be worth more than US$2 billion according to sources who disclosed information on the condition that they remain anonymous since the matter is confidential. The sources added, Madison Dearborn will possibly choose not to sell the company in the mean time.

When requested for a comment, Yankee Candle refused to say anything while private equity firm's representatives did not answer right away on request for comment.