A strategic combination brings together trusted brands
26 Jan 2016
Attention shoppers. The strategic combination of Jarden Corporation and Newell Rubbermaid creates a new $16 billion consumer goods powerhouse, called Newell Brands. Its combined portfolio of leading brands includes Paper Mate, Sharpie, Calphalon, Graco, Marmot, Coleman, Oster, Rawlings and Yankee Candle, which are sold in over 100 countries.
On December 14, 2015, Jarden Corporation announced that it had entered into a definitive agreement1 to combine with Newell Rubbermaid Inc., in a transaction that values Jarden at an approximate enterprise value of US$20 billion. Barclays acted as the lead Financial Advisor to Jarden, rendered a fairness opinion to its Board of Directors and played a key role in the successful announcement of the transaction.
A win for consumers
Newell Brands will have a portfolio of consumer brands in primarily large and growing consumer categories that are responsive to investment and innovation. The transaction is expected to substantially scale the combined company’s presence in key retailers, distribution channels, and geographies.
The result? Newell Brands will be able to bring new and better innovations to consumers with greater speed and efficiency, and consumers will benefit from improved distribution and access to the company’s products.
“We are delighted that Jarden has continued to turn to Barclays for its most significant transactions; it is undoubtedly the team’s dedication to and focus on the client’s needs that have enabled us to earn our client’s respect and business time and time again.”
John Welsh, Managing Director
An enduring commitment to success
Over the last 12 years, Barclays has worked with Jarden on a number of M&A and Capital Markets transactions. This transaction underscores both our continued momentum in M&A and Consumer Retail Investment Banking and our long-term commitment to helping clients like Jarden to realise their ambitions.
A brief history of our partnership with Jarden Corporation
Acted as Advisor to Jarden on its US$1.5 billion acquisition of Jostens and acted as Left Lead Bookrunner and Joint Arranger on US$500 million Debt Acquisition Financing, and Quarter Back on US$500 million follow-on equity offering.
Acted as Quarterback on US$1.0 billion follow-on equity offering, and Lead Left Arranger and Bookrunner on US$900 million of Term Loans for Jarden’s acquisition of The Waddington Group.
Acted as Left Lead Bookrunner on Jarden’s US$690 million Senior Subordinated Convertible Notes Offering.
Acted as Sole Lead Arranger on Jarden’s US$750 million Senior Secured Term Loan and Lead Bookrunning Manager on US$776 million follow-on equity offering to finance the acquisition of Yankee Candle.
Led Jarden’s Senior Subordinated Convertible Notes Offerings of US$265 million.
Led Jarden’s Senior Subordinated Convertible Notes Offerings of US$500 million.
1The definitive agreement to combine the two companies is subject to approval by shareholders of both Newell Rubbermaid and Jarden Corporation, receipt of regulatory approvals and other customary closing conditions.