Newell Rubbermaid Inks Deal To Buy Jarden Corporation

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Sandy Springs, GA -- Sandy Springs-based Newell Rubbermaid and Jarden Corporation announced Monday that they have entered into an agreement to combine the two companies.

The transaction creates a $16 billion consumer goods company, which will be renamed to Newell Brands, Newell said in a press release.

“The combination of these two great companies creates a $16 billion consumer goods company with incredible potential to grow and create value,” said Michael B. Polk, Newell Rubbermaid president and CEO. “The scale of our combined businesses in key categories, channels and geographies creates a much broader canvas on which to leverage our advantaged set of brand development and commercial capabilities for accelerated growth and margin expansion.

Jarden Founder and Executive Chairman Martin E. Franklin added he’s delighted to play a role in “bringing together these two winning companies.”

“The combination offers significant value for our shareholders and the opportunity to participate in the combined company’s long-term value creation potential as shareholders in Newell Brands,” Franklin said. “I’m extremely proud of Jarden’s success over the past 14 years, which has been driven by an extraordinary culture designed to perform at a high level. We have spent significant time with Newell Rubbermaid’s senior management team and are convinced they have a similar ambition and drive. I’m excited by the opportunities for this new combined organization and I look forward to being part of this dynamic new chapter.”

The acquisition involving the global consumer product companies is subject to approval by shareholders of both Newell Rubbermaid and Jarden Corporation, receipt of regulatory approvals and other customary closing conditions. The transaction is expected to close in the second quarter of 2016.

Image via Shutterstock