ERJ staff report (DS)
Rye New York -- Jarden Corporation said it has successfully completed its previously announced acquisition of the Mapa Spontex Baby Care and Home Care businesses from Total S.A. The transaction is valued at approximately $500 million, including the assumption or repayment of indebtedness. The deal was completed on 1 April.
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.
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
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Press release from Jarden