Jarden

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Jarden Corporation
Traded as NYSEJAH
Industry Consumer goods
Founded 2001
Founder(s) Martin E. Franklin
Headquarters Rye, New York, United States
Area served Worldwide
Key people Martin E. Franklin (Executive Chairman), James E. Lillie (CEO)
Products Outdoor Solutions, Consumer Solutions and Branded Consumables
Revenue Increase US$6.7 billion (FY 2013)[1]
Operating income Increase US$1.9 million (FY 2013)[1]
Net income Decrease US$243.9 million (FY 2013)[1]
Total assets Increase US$7.7 billion (FY 2013)[1]
Total equity Increase US$1.8 billion (FY 2013)[1]
Employees 25,000
Website www.jarden.com

Jarden Corporation, is a provider of a diverse range of consumer products with a portfolio of over 100 brands sold globally, operating in three primary business segments - Outdoor Solutions, Consumer Solutions and Branded Consumables. In 2012, Jarden was ranked #371 on the Fortune 500. On August 30, 2013, Jarden's market capitalization was approximately US $4.84 billion[2] and the company had over 25,000 employees worldwide.[3]

History[edit]

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, Inc. for approximately $160 million, which included the Foodsaver® Brand. In February 2003, Jarden purchased substantially all of the assets of Diamond Brands, Incorporated and Diamond Brands Operating Corp, (formerly Diamond Match) for approximately $108 million. Trademarks acquired included Diamond and Forster. In September 2003, Jarden acquired Lehigh Consumer Products Corporation for approximately $155 million. Trademarks acquired included Crawford, Lehigh, and Leslie-Locke.

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 privately held The United States Playing Card Company, and in October 2004 it purchased the remaining 25%. Trademarked brands acquired included Bee, Bicycle, Aviator, and Hoyle. 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. For background, in March 1998, Sunbeam Corporation acquired the The Coleman Company, Inc. and Coleman Powermate. In December 2002, Sunbeam Corporation filed Chapter 11 bankruptcy and canceled its common stock. When it emerged from bankruptcy, Sunbeam changed its name to American Household, Inc., a privately held company.

In July 2005, Jarden acquired The Holmes Group, Inc., 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. Brands acquired included Holmes, Rival, and Crock-Pot.

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 agree to acquire the Yankee Candle Company, the largest US candle company for $1.75 billion with cash, common equity and a mix of bank debt and bonds.[5]

History of Jarden's Name[edit]

The company was renamed in May 2002. The company's previous name, Alltrista, was created by dropping the "B" from Ball and the "Minne" from Minnetrista, the street on which the Ball family had grown up in Muncie, IN. Between 1993 and 2001, as a public company, Alltrista did not perform well and, after Martin E. Franklin and Ian G.H. Ashken joined the company in 2001, Mr. Franklin decided to change the name of the company to something that represented not only the company’s heritage, but also its future. The company did not hire any consultants to assist with the naming process. Martin Franklin conceived the Jarden name by combining the heritage of the Ball "Jar" with the concept of products being used in the home (the “den”). The coinage of “Jarden” also invoked the connotation of the French word for garden (jardin), since the company planned to expand its product range outside the home.

Lawsuits[edit]

In January 2006, a class action lawsuit was filed against Jarden Corp and its CEO for securities fraud.[6] A settlement of $8,000,000 was reached in 2009.

References[edit]

External links[edit]

See also[edit]