Jarden Corporation's hefty portfolio of consumer products consist of well-recognizable brands, including Coleman, Mr. Coffee, Crock-Pot and Crawford.
In an interview with TheStreet, Jarden's CEO Martin Franklin said the company has been vetting companies to buy in the last eight years and is confident of Mapa Spontex's suitability for Jarden. Franklin said Mapa Spontex's strong niche brand value, its management teams and its cash-flow history were all attractive attributes for Jarden.
But of equal, if not, greater importance is that Mapa Spontex fits into Jarden's long-term growth strategy, said Franklin. From an international platform perspective, Franklin said it would give Jarden greater exposure to the Brazil and Argentina markets. Franklin also said that, from a distribution standpoint, Mapa Spontex will allow Jarden to take advantage of revenue opportunities in the chief five countries of Europe."Mapa Spontex is a very Jardenesque company," Franklin said. "It fits into the mold of our business. It takes us into the baby space and the juvenile space, which we think is very attractive." Franklin says that the acquisition should become profitable immediately after the deal is completed, which should be in the second quarter of 2010. "Fifteen to twenty cents as a guidance is something we feel comfortable with," Franklin said, adding the there will be a one-time charge for the company after the closing of the deal next year.