Jarden Completes Acquisition of Mapa Spontex Baby Care & Home Care Businesses

RYE, N.Y., April 5 /PRNewswire-FirstCall/ -- Jarden Corporation (NYSE: JAH) today announced that on Thursday, April 1, 2010 it successfully completed its previously announced acquisition of the Mapa Spontex Baby Care and Home Care businesses of Total S.A.  The transaction is valued at approximately $500 million, including the assumption or repayment of indebtedness.

The acquisition extends Jarden's presence into two attractive categories with market leading brands and products.  The baby care portfolio includes teats, soothers, feeding bottles and other infant care accessories sold primarily under the globally recognized NUK® brand, as well as the Tigex®, Lillo®, Fiona® and First Essentials® brands.  The home care portfolio includes sponges, rubber gloves and related cleaning products for retail, professional and industrial uses sold primarily under the Mapa® and Spontex® brands.  Mapa Spontex will be reported in Jarden's Branded Consumables segment.  Consistent with Jarden's product lines, Mapa Spontex holds leading market share position across its multiple product lines.

Commenting on the transaction, Martin E. Franklin, Chairman and Chief Executive Officer of Jarden, said, "We are extremely pleased to announce the on-time completion of our acquisition of Mapa Spontex Baby Care and Home Care and are delighted with the addition of Mapa Spontex's market leading, iconic brands to our Branded Consumables portfolio.  This transaction enables us to achieve important strategic objectives.  It provides entry into the baby care market through a global market leader; NUK®'s leading position will provide a formidable platform for Jarden to enter the $6 billion baby care market.  It diversifies our revenue streams; it broadens our customer base and helps rebalance the contribution from our three primary business segments.  It significantly expands our international presence; Mapa Spontex's strength in Europe and Latin America will expand our international sales to nearly 40 percent of the total and will provide access to new markets for our existing portfolio.  Finally, the transaction is consistent with our previously stated acquisition criteria and was completed at an attractive multiple of approximately six times 2008 EBITDA."

Eric Perrot, Chief Executive Officer of Mapa Spontex said, "We are delighted by the opportunity to join Jarden's portfolio of market-leading brands.  Jarden's commitment to innovation, investment in ongoing product development, and focus on growth and customer relationships are an excellent match with our own business culture.  Under Jarden's leadership, we believe our brands will have several new opportunities for organic growth and we look forward to an exciting future as part of their organization."

Mr. Franklin concluded, "This transaction represents an excellent long-term growth opportunity for Jarden and its shareholders.  I would like to welcome all of Mapa Spontex's employees to the Jarden family and look forward to working together to maximize the enhanced opportunities presented by our combined platforms."  

About Mapa Spontex

Headquartered in Paris, France, Mapa Spontex is a global manufacturer and distributor of baby care and home care products with leading market positions in Europe, Brazil and Argentina in the core categories it serves.  Its baby care portfolio includes teats, soothers, feeding bottles and other infant and health care accessories sold primarily under the NUK®, Tigex®, Lillo®, Fiona® and First Essentials® brands.  Its home care portfolio includes sponges, rubber gloves and related cleaning products for retail, professional and industrial uses sold primarily under the Mapa® and Spontex® brands.    

About Jarden

Jarden Corporation is a leading provider of niche consumer products.  Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia®, Berkley®, Campingaz® and Coleman®, Fenwick®, Gulp!®, K2®, Marker®, Marmot®, Mitchell®, Penn®, Rawlings®, Shakespeare®, Stearns®, Stren®, Trilene®, Volkl®, and Zoot®; Consumer Solutions: Bionaire®, Crock-Pot®, FoodSaver®, Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White Mountain®; and Branded Consumables: Ball®, Bee®, Bicycle®, Crawford®, Diamond®, Dicon®, First Alert®, Forster®, Hoyle®, Kerr®, Lehigh®, Leslie-Locke®, Loew Cornell® and Pine Mountain®.  Headquartered in Rye, N.Y., Jarden has over 20,000 employees worldwide. For more information, please visit www.jarden.com.  

Note: This news release contains "forward-looking statements" within the meaning of the federal securities laws and is intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's adjusted earnings per share, repurchase of shares of common stock from time to time under the Company's stock repurchase program, the outlook for the Company's markets and the demand for its products, estimated sales, segment earnings, earnings per share, cash flows from operations, free cash flow, future revenues and gross, operating and EBITDA margin improvement requirement and expansion, organic growth, the success of new product introductions, growth in costs and expenses, the impact of commodities and transportation costs, and the impact of acquisitions, divestitures, restructurings, and other unusual items, including Jarden's ability to integrate and obtain the anticipated results and synergies from its consummated acquisitions. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause results to vary is included in the Company's periodic and other reports filed with the Securities and Exchange Commission.  

SOURCE Jarden Corporation

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