Jarden

Jarden Corporation
Traded as NYSE: JAH
Industry Consumer goods
Fate Acquired by Newell Rubbermaid
Successor Newell Brands
Founded 2001 (2001)
Founder Martin E. Franklin
Headquarters United States
Area served
 Worldwide
Key people
 Martin E. Franklin (Executive Chairman), Ian G.H. Ashken (Vice Chairman and President) and James E. Lillie (CEO)
Products Outdoor Solutions, Branded Consumables and Consumer Solutions
Revenue Increase US$8.3 billion (FY 2014)[1]
Total assets Increase US$10.8 billion (FY 2014)[1]
Total equity Increase US$2.6 billion (FY 2014)[1]
Number of employees
 30,000+
Website www.jarden.com

Jarden was a U.S. consumer products company. Formed by the spin-out of Ball Corporation's canning business, the company became a wider conglomerate of consumer brands, particularly in the outdoors and home appliances market.

Jarden was acquired in 2016 by Newell Rubbermaid, which renamed itself Newell Brands.

History

Jarden in Canada

In April 1993, Ball Corporation spun off its canning business as a new company called Alltrista Corporation. In May 2002, Alltrista changed its name to Jarden Corporation. The spin-off retained the trademarks to the names Kerr, Ball, and Bernardin.[2]

In April 2002, Jarden Corporation acquired Tilia International, owner of the Foodsaver brand, for approximately $160 million. In February 2003, Jarden acquired the Diamond Match Company for approximately $108 million. In September 2003, Jarden acquired Lehigh Consumer Products Corporation for approximately $155 million, giving it ownership of the Crawford, Lehigh, and Leslie-Locke brands.

In March 2004, Jarden acquired Loew-Cornell, a maker of brushes and other arts and crafts supplies. In June 2004, Jarden bought a 75% stake in the United States Playing Card Company, and in October 2004 it purchased the remaining 25%. The purchase price was approximately $240 million.

In January 2005, Jarden acquired American Household, Inc, for approximately $845 million. The corporation owned the Coleman Company, and Sunbeam Products, Inc. Brands acquired as part of this acquisition included Coleman, First Alert, Sunbeam, Mr. Coffee, and Oster.

In July 2005, Jarden acquired The Holmes Group, a manufacturer and distributor of select home environment and small kitchen electrics, for approximately $420 million in cash and approximately 6.2 million shares of Jarden common stock. The acquisition gave Jarden rights to the Rival, and Crock-Pot brands.

In August 2006, Jarden acquired Pine Mountain firelogs and firestarters from Conros Corporation for approximately $150 million.

In August 2007, Jarden acquired K2 Sports for approximately US$ 1.2 billion. K2 included brands such as Marker, Marmot, Rawlings, Sevylor, Shakespeare, and Völkl under its umbrella. Jarden also acquired Pure Fishing, Inc. in April 2007 for approximately $400 million.

In April 2010, Jarden acquired the Mapa Spontex Baby Care and Home Care businesses for a total value, including debt assumed and/or repaid, of approximately $415 million. Later in 2010, Jarden acquired Quickie Manufacturing Corporation and Aero Products International, Inc. Brands acquired in these two transactions included Quickie, Aero, and Aerobed, among others.

In September 2013, Jarden acquired Yankee Candle for $1.75 billion with cash, common equity and a mix of bank debt and bonds,[3] a deal which Bank of America's Stefan M. Selig helped bring about.[4]

On October 14, 2015, Jarden announced that it would acquire Jostens, a producer of school memorabilia such as yearbooks, for $1.5 billion.[5][6]

On December 14, 2015, Newell Rubbermaid announced that it would acquire Jarden for over $15 billion of cash and stock. The combined company is known as Newell Brands, with 55% owned by Newell's shareholders.[7][8]

Name

The company was renamed from Alltrista in May 2002. Martin E. Franklin joined the company in 2001, Franklin decided to change the name of the company to something that represented the company’s heritage, and future. Martin Franklin conceived the Jarden name by combining the heritage of the Ball Mason Jar ("Jar") with the concept of products being used in the home (the “den”). “Jarden” also invokes the French word for garden (jardin), since the company planned to expand its product range outside the home.[9]

Brands

Branded Consumables

Branded Consumables are primarily niche, affordable, consumable household staples used in and around the home. Products tend to offer high, gross margin with strong and stable cash flow generations. In 2014, Branded Consumables delivered Net Sales of $3.0 billion with a Segment Earnings Margin of 17.4%.[10]

Outdoor Solutions

Outdoor Solutions are recreational products designed to help consumers enjoy the outdoors. Jarden is one of the largest hard-goods sporting equipment company in the world, with leadership positions in US, Europe and Japan. In 2014, Outdoor Solutions delivered Net Sales of $2.7 billion with a Segment Earnings Margin of 11.0%.[10]

Consumer Solutions

Consumer Solutions are products designed to simplify the daily lives of consumers in and around the home. Consumer Solutions appliances are the most broadly distributed brand portfolio in core categories throughout the Americas. In 2014, Consumer Solutions delivered Net Sales of $2.2 billion with a Segment Earnings Margin of 16.2%.[10]

Process Solutions

Jarden Corporation also owns Jarden Process Solutions that includes Jarden Plastic Solutions, Jarden Applied Materials, and Jarden Zinc Products. Jarden Zinc Products is best known as the principal supplier of zinc for the manufacture of the U.S. penny.[11]

Lawsuits

In January 2006, a class action lawsuit was filed against Jarden Corp and its CEO for securities fraud. A settlement of $8,000,000 was reached in 2009.[12]

See also

References

  1. 1 2 3 "Jarden Corp Annual Report".
  2. ↑ Company history of Alltrista Corporation, International Directory of Company Histories
  3. ↑ "Jarden to buy Yankee Candle for $1.75 billion". September 3, 2013.
  4. ↑ Dana, Mattioli (7 November 2013). "Bank of America's Selig Nominated for Commerce Department Post". WSJ. Retrieved 14 May 2014.
  5. ↑ Picker, Leslie (2015-10-14). "Jarden Reaches Deal to Buy Jostens for $1.5 Billion". The New York Times. ISSN 0362-4331. Retrieved 2015-10-25.
  6. ↑ "Jarden to Buy Yearbook Maker Jostens for About $1.5 Billion". Bloomberg. Retrieved 14 December 2015.
  7. ↑ "Newell Rubbermaid to Acquire Jarden for $15.4 Billion". Bloomberg. Retrieved 14 December 2015.
  8. ↑ "Newell Rubbermaid to Buy Jarden for Over $15 Billion". The Wall Street Journal. Retrieved 14 December 2015.
  9. ↑ "Newell Brands". jarden.com.
  10. 1 2 3 "Jarden Corporation Annual Reports". July 8, 2014.
  11. ↑ "Company Overview". Jarden Zinc Products. Retrieved 2 May 2016.
  12. ↑ "Class action lawsuit against Jarden".

External links


This article is issued from Wikipedia - version of the 10/22/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.