Jarden

Last updated
Jarden Corporation
Company type Subsidiary
Industry Consumer 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
RevenueIncrease2.svg US$8.3 billion (FY 2014) [1]
Total assets Increase2.svg US$10.8 billion (FY 2014) [1]
Total equity Increase2.svg US$2.6 billion (FY 2014) [1]
Number of employees
30,000+
Parent Newell Brands
Websitejarden.com
Archived 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]

Contents

History

Jarden in Canada JardenBrandedConsumables.JPG
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.[ when? ]

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 August 2012, Jarden acquired British company Pulse Home Products from Rutland Partners. Pulse Home Products made home products including Breville kettles, Dirt Devil vacuum cleaners and products for Nicky Clarke hair care. [7]

In September 2013, Jarden acquired Yankee Candle for $1.75 billion with cash, common equity and a mix of bank debt and bonds, [8] a deal which Bank of America's Stefan M. Selig helped bring about. [9] On October 14, 2015, Jarden announced that it would acquire Jostens, a producer of school memorabilia such as yearbooks, for $1.5 billion. [10] [11]

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. [12] [13] The acquisition was completed on April 15, 2016. [2]

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. [14]

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. [15]

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%. [16]

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%. [16]

Consumer Solutions

In July 2014, Consumer Solutions had net Sales of $2.2 billion with a Segment Earnings Margin of 16.2%. [16]

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. [17]

Lawsuits

In January 2006, a class action lawsuit was filed against Jarden Corp and its CEO for securities fraud. [18]

See also

Related Research Articles

<span class="mw-page-title-main">Coleman (brand)</span> Brand of outdoor recreation products

The Coleman Company, Inc. is an American brand of outdoor recreation products, especially camping gear, now owned by Newell Brands. The company's new headquarters are in Chicago, and it has facilities in Wichita, Kansas, and in Texas. There are approximately 4,000 employees. Some of the products manufactured are portable stoves, lanterns, coolers, sleeping bags, camp chairs, and shelters.

Sunbeam Products is an American company founded in 1897 that has produced electric home appliances under the Sunbeam name since 1910. Its products have included the Mixmaster mixer, the Sunbeam CG waffle iron, Coffeemaster (1938–1964) and the fully automatic T20 toaster.

<span class="mw-page-title-main">Ball Corporation</span> American aerospace and metal food and beverage container manufacturer

Ball Corporation is a global aluminum manufacturing company headquartered in Westminster, Colorado. It is best known for its early production of glass jars, lids, and related products used for home canning. Since its founding in Buffalo, New York, in 1880, when it was known as the Wooden Jacket Can Company, the Ball company has expanded and diversified into other business ventures, including aerospace technology. It eventually became the world's largest manufacturer of recyclable aluminum packaging for a variety of beverage, home and personal care applications.

<span class="mw-page-title-main">Newell Brands</span> American consumer products company

Newell Brands Inc. is an American manufacturer, marketer and distributor of consumer and commercial products. The company's brands and products include Rubbermaid storage and trash containers; home organization and reusable container products; Contigo and Bubba water bottles; Coleman outdoor products; writing instruments glue ; children's products ; cookware and small appliances and fragrance products.

<span class="mw-page-title-main">Rubbermaid</span> American manufacturer and distributor of household items

Rubbermaid is an American manufacturer and distributor of household items. A subsidiary of Newell Brands, it is best known for producing food storage containers and trash cans. It also produces sheds, step stools, closets and shelving, laundry baskets, bins, air fresheners and other household items.

<span class="mw-page-title-main">Yankee Candle</span> American manufacturer and retailer

The Yankee Candle Company, Inc., doing business as Yankee Candle, is an American manufacturer and retailer of scented candles, candleholders, accessories, and dinnerware. Its products are sold by thousands of gift shops nationwide, through catalogs, and online, and in nearly 50 countries around the world. The company operates just over 260 small-box format stores, located in malls across 43 U.S. states and Ontario, and is the largest candle manufacturer in the United States. The company is headquartered in South Deerfield, Massachusetts.

<span class="mw-page-title-main">Mr. Coffee</span> American coffee machine brand

Mr. Coffee is a brand of automatic drip-brew kitchen coffee machines and other kitchen appliances owned by Newell Brands. Founded in the early 1970s to make a pioneering coffeemaker, Mr. Coffee established itself as the industry's top-selling brand through a promotional relationship with former New York Yankee great Joe DiMaggio, a Major League Baseball Hall of Famer held in high regard by that era's consumers. It subsequently expanded into other kitchen products, such as a related tea maker, juicer, and food dehydrator, and integrated wireless technology into a "smart" version of its coffeemaker. Mr. Coffee is a registered trademark.

<span class="mw-page-title-main">K2 Sports</span> American sporting goods company

K2 Sports, LLC, known simply as K2, is an American sporting goods company headquartered in Seattle, Washington focused primarily on winter sports equipment. K2 operates under the labels K2 Snow and K2 Skates, as well as its subsidiaries Backcountry Access, Ride Snowboards, Tubbs Snowshoes, Atlas Snow-Shoe Company, LINE Skis, Full Tilt Boots, and Madshus brands. Famous users of K2 Skis include pro champion Spider Sabich, World Cup and Olympic champion Phil Mahre, and his twin brother Steve Mahre, World Champion and Olympic silver medalist.

<span class="mw-page-title-main">Rawlings (company)</span> American sports equipment company

Rawlings Sporting Goods is an American sports equipment manufacturing company based in Maryland Heights, Missouri. Founded in 1887, Rawlings currently specializes in baseball and softball clothing and equipment, producing gloves, bats, balls, protective gear, batting helmets, uniforms, bags. Footwear includes sneakers, and sandals. The company also sells other accessories such as belts, wallets, and sunglasses. Former products manufactured by Rawlings included American football, basketball, soccer, and volleyball balls.

<span class="mw-page-title-main">Graco (baby products)</span>

Graco Children's Products Inc. is an American baby products company based in High Point, North Carolina. It is owned and operated by Newell Brands. Graco offers products including car seats, travel systems, strollers, high chairs, play yards, and baby swings.

Esselte is a manufacturer and marketer of office products and business supplies with subsidiaries in 25 countries and sales in over 120 countries. Esselte makes files, binders, folders, covers, staplers, letter trays and computer accessories under the Esselte, Leitz, Oxford, Pendaflex, Rapid and Xyron brands. Customers range from wholesalers and direct marketers to office superstores and mass retailers.

ABU Garcia, originally AB Urfabriken, then ABU Svängsta, is a fishing reel and equipment manufacturing company founded in Svängsta, Sweden, and is now owned by Pure Fishing conglomerate of the United States.

Rexair LLC is an American manufacturer of vacuum cleaners based in Troy, Michigan. Rexair is predominantly known for its production and marketing of a home cleaning system that uses water as its primary filter.

Marmot is an outdoor recreation clothing and sporting goods company founded in 1974 as "Marmot Mountain Works". The company was founded in Grand Junction, Colorado by local resident Tom Boyce and two University of California, Santa Cruz students, David Huntley and Eric Reynolds, who shared the common goal of making their own mountaineering equipment.

<span class="mw-page-title-main">Jostens</span> American memorabilia manufacturer

Jostens Inc. is an American manufacturer of memorabilia. The company is primarily known for its production of yearbooks, academic regalia, and class rings for various high schools and colleges as well as championship rings for sports. For over 50 years, Jostens has been the supplier of the Super Bowl championship rings. Jostens also produced photobook products for Disney's PhotoPass photography service offered at Disney theme parks and resorts.

First Alert is the retail brand of American safety equipment manufacturer BRK Brands, Inc., established in 1976 and based in Aurora, Illinois, with a production plant in Juarez, Mexico. Products sold with the brand include carbon monoxide detectors, smoke alarms, fire extinguishers, and other safety products like flashlights and fire escape ladders. First Alert supports fire safety in partnership with Safe Kids USA and The United States Fire Administration, providing smoke alarms at reduced cost to low-income families in the United States.

<span class="mw-page-title-main">Rival (consumer products company)</span> American home appliance manufacturer

The Rival Company is an American manufacturer of small appliances that produces products under the Bionaire, Crock-Pot, Fasco, Patton, Pollenex, Rival, Simer, and White Mountain brands. It became a wholly owned subsidiary of Holmes Products Corp. in 1999, and later became a brand of Sunbeam Products, a subsidiary of Jarden Corporation, which purchased Holmes in 2005. Jarden, in turn, merged with Newell Rubbermaid in 2016. It is now part of the Newell Brands company.

James E. Lillie is an American business executive. He currently serves as Vice Chairman of Mariposa Capital, a private family office. Since 2017, he has been a member of the Board of Directors of Tiffany & Co., and he was named Co-Chairman of APi Group, Inc. in 2019. Me. Lillie also serves on the Boards of Nomad Foods Inc., Acuren Corporation and Sweet Oak, Inc. He served as CEO of Jarden Corp. from 2011 until its 2015 sale to Newell Brands. Lillie is long-term business partners with Martin E. Franklin and Ian G. H. Ashken. He has been a frequent guest and guest host on CNBC and Bloomberg TV.

Sir Martin Ellis Franklin, KGCN is a British American, Miami-based businessman. He is the founder and chairman of Element Solutions Inc.; co-founder and co-chairman of Nomad Foods Limited, and co-founder and former chairman of Jarden Corporation, which was sold to Newell Brands in 2016. Franklin is also the founder and CEO of Mariposa Capital, a Miami-based family investment firm; a director of Restaurant Brands International Inc.; chairman and controlling shareholder of Royal Oak Enterprises, LLC, and is a principal and executive officer of several other private investment entities.

White Mountain Products is a brand of ice cream makers in the Sunbeam products division. It is a subsidiary of Newell Brands.

References

  1. 1 2 3 "Jarden Corp Annual Report".
  2. 1 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. ↑ https://www.fnlondon.com/articles/rutland-pulse-home-products-biffa-20120808
  8. ↑ "Jarden to buy Yankee Candle for $1.75 billion". Reuters. September 3, 2013. Archived from the original on 2013-09-05.
  9. ↑ Dana, Mattioli (7 November 2013). "Bank of America's Selig Nominated for Commerce Department Post". WSJ. Retrieved 14 May 2014.
  10. ↑ 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.
  11. ↑ "Jarden to Buy Yearbook Maker Jostens for About $1.5 Billion". Bloomberg. Retrieved 14 December 2015.
  12. ↑ "Newell Rubbermaid to Acquire Jarden for $15.4 Billion". Bloomberg. Retrieved 14 December 2015.
  13. ↑ "Newell Rubbermaid to Buy Jarden for Over $15 Billion". The Wall Street Journal. Retrieved 14 December 2015.
  14. ↑ "St. Louis County-based Rawlings sold to group that includes Major League Baseball". St Louis Post Dispatch. 5 June 2018.
  15. ↑ "Newell Brands". jarden.com.
  16. 1 2 3 "Jarden Corporation Annual Reports". July 8, 2014.
  17. ↑ "Company Overview". Jarden Zinc Products. Archived from the original on 2 April 2016. Retrieved 2 May 2016.
  18. ↑ "(PZ) Attorney Christopher Gray Files Class Action Lawsuit Against Jarden Corp. -- JAH". Houston Chronicle. 2006-02-18. Retrieved 2019-07-15.
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