No one is happier about Newell Rubbermaid's  (NWL) completed merger with Jarden (JAH)  than TheStreet's Jim Cramer. 

"I think this combination presents you with a new way to play the housewares business other than just Home Depot (HD) and Masco (MAS) ," he said. "I'm recommending this thing hard."

This is a good deal that allows the newly combined company to lower its costs, boost its margins and gain more shelf space, Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment. Newell's shares are already up 2% Monday.

Management will consolidate some brands while selling off those that aren't doing as well. That means Newell will stick with the higher-margin businesses, Cramer said. Taking out Jarden gives Newell more clout in keeping prices up at big box retailers including Home Depot and Walmart (WMT) . 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

More from Opinion

These 5 Tech Giants Still Aren't That Expensive

These 5 Tech Giants Still Aren't That Expensive

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

Intel CEO Brian Krzanich's Ouster Proves CEOs Aren't Above the Rules

Intel CEO Brian Krzanich's Ouster Proves CEOs Aren't Above the Rules

Red Hat CFO Tells TheStreet: Tech Trends Are Still in Our Favor

Red Hat CFO Tells TheStreet: Tech Trends Are Still in Our Favor

Throwback Thursday: Intel Edition

Throwback Thursday: Intel Edition