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) .