Jarden Corporation
TypeSubsidiary
IndustryConsumer goods
FoundedApril 1993 (1993-04) (as Alltrista)
FounderMartin E. Franklin
DefunctApril 15, 2016 (2016-04-15)
FateAcquired by Newell Rubbermaid
Headquarters
Rye, New York
,
United States
Area served
Worldwide
Key people
Martin E. Franklin (Executive Chairman), Mark S. Tarchetti (President) and Michael B. Polk (CEO)
ProductsOutdoor Solutions, Branded Consumables and Consumer Solutions
RevenueIncrease US$8.3 billion (FY 2014)[1]
Total assetsIncrease US$10.8 billion (FY 2014)[1]
Total equityIncrease US$2.6 billion (FY 2014)[1]
Number of employees
30,000+
ParentNewell Brands
WebsiteArchived official website at the Wayback Machine (archived 2013-04-02)

Jarden was an American 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.[2][3]

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.[4]

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.[5] In September 2003, Jarden acquired Lehigh Consumer Products Corporation for approximately $155 million, giving it ownership of the brands Crawford, Lehigh, and Leslie Locke.

In March 2004, Jarden acquired Loew Cornell, a maker of brushes and other arts and crafts supplies for an estimated purchase price of $30 to $40 million, according to a research report issued by SunTrust Robinsion Humprey on April 27, 2004. 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. American Household, Inc. 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 brands Rival, and Crock-Pot.

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

In April 2007, Jarden acquired Pure Fishing, Inc. for approximately $400 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.[6]

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,[7] a deal which Bank of America's Stefan M. Selig helped bring about.[8] On October 14, 2015, Jarden announced that it would acquire Jostens, a producer of school memorabilia such as yearbooks, for $1.5 billion.[9][10]

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.[11][12] The acquisition was completed on April 15, 2016.

On June 5, 2018, Newell announced it was selling the Rawlings division to a private equity group, SEP and MLB in order to focus on nine core product lines.[13]

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.[14]

Brands

Branded Consumables

Branded Consumables are primarily niche, affordable, consumable household staples used in and around the home. Products tended to offer high gross margin with strong and stable cash flow generations. In July 2014, Branded Consumables delivered Net Sales of $3.0 billion with a Segment Earnings Margin of 17.4%.[15]

Outdoor Solutions

Outdoor Solutions are recreational products designed to help consumers enjoy the outdoors. Jarden was one of the largest hard goods sporting equipment company in the world, with leadership positions in United States, Europe and Japan. In July 2014, Outdoor Solutions delivered Net Sales of $2.7 billion with a Segment Earnings Margin of 11.0%.[15]

Consumer Solutions

In July 2014, Consumer Solutions had net Sales of $2.2 billion with a Segment Earnings Margin of 16.2%.[15]

Process Solutions

Jarden Corporation also owned 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.[16]

Lawsuits

In January 2006, a class action lawsuit was filed against Jarden Corp and its CEO for securities fraud.[17]

See also

References

  1. 1 2 3 "Jarden Corp Annual Report".
  2. ↑ Terlep, Sharon (15 April 2016). "After Jarden Deal, Newell CEO to Focus on Costs, Struggling Brands". Wall Street Journal. Retrieved 2019-07-15.
  3. ↑ RM Law. "RM LAW Announces Class Action Lawsuit Against Newell Brands Inc". www.prnewswire.com (Press release). Retrieved 2019-07-15.
  4. ↑ Company history of Alltrista Corporation, International Directory of Company Histories
  5. ↑ "Jarden buying Diamond assets". 6 January 2013.
  6. ↑ "Jarden Completes K2 Acquisition". SGB Media. 2007-08-09. Retrieved 2022-09-27.
  7. ↑ "Jarden to buy Yankee Candle for $1.75 billion". Reuters. September 3, 2013. Archived from the original on 2013-09-05.
  8. ↑ Dana, Mattioli (7 November 2013). "Bank of America's Selig Nominated for Commerce Department Post". WSJ. Retrieved 14 May 2014.
  9. ↑ 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.
  10. ↑ "Jarden to Buy Yearbook Maker Jostens for About $1.5 Billion". Bloomberg. Retrieved 14 December 2015.
  11. ↑ "Newell Rubbermaid to Acquire Jarden for $15.4 Billion". Bloomberg. Retrieved 14 December 2015.
  12. ↑ "Newell Rubbermaid to Buy Jarden for Over $15 Billion". The Wall Street Journal. Retrieved 14 December 2015.
  13. ↑ "St. Louis County-based Rawlings sold to group that includes Major League Baseball". St Louis Post Dispatch. 5 June 2018.
  14. ↑ "Newell Brands". jarden.com.
  15. 1 2 3 "Jarden Corporation Annual Reports". July 8, 2014.
  16. ↑ "Company Overview". Jarden Zinc Products. Archived from the original on 2 April 2016. Retrieved 2 May 2016.
  17. ↑ "(PZ) Attorney Christopher Gray Files Class Action Lawsuit Against Jarden Corp. -- JAH". Houston Chronicle. 2006-02-18. Retrieved 2019-07-15.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.