Jarden Announces Planned Acquisition of Mapa Spontex
Jarden Corporation announces that it has made a binding offer to acquire the Mapa Spontex Baby Care and Home Care businesses of Total S.A. Under the terms of the offer, Jarden will pay approximately $500 million in cash, less any indebtedness assumed by Jarden.
"We believe Mapa Spontex will be an excellent strategic addition to our Jarden Branded Consumables segment," comments Martin E. Franklin, chairman and chief executive officer of Jarden Corporation. "By entering the baby care and home care markets, we believe we will achieve two major strategic objectives. First, the transaction is expected to expand our product offerings and distribution channels into new, attractive categories; and second, we anticipate it will further diversify our revenue streams and increase our international presence. Mapa Spontex fits well within Jarden's disciplined acquisition criteria, with its market leading brands, strong management and good cash flow. We anticipate the transaction will be immediately accretive to earnings once closed."
Headquartered in Paris, France, Mapa Spontex is a global manufacturer and distributor of baby care and home care products with market positions in Europe, Brazil and Argentina. Its baby care portfolio includes teats, soothers, feeding bottles and other infant and health care accessories sold primarily under the NUK, Tigex, Lillo, Fiona and First Essentials brands. Its 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.
"We believe Mapa Spontex will be an excellent strategic addition to our Jarden Branded Consumables segment," comments Martin E. Franklin, chairman and chief executive officer of Jarden Corporation. "By entering the baby care and home care markets, we believe we will achieve two major strategic objectives. First, the transaction is expected to expand our product offerings and distribution channels into new, attractive categories; and second, we anticipate it will further diversify our revenue streams and increase our international presence. Mapa Spontex fits well within Jarden's disciplined acquisition criteria, with its market leading brands, strong management and good cash flow. We anticipate the transaction will be immediately accretive to earnings once closed."
Headquartered in Paris, France, Mapa Spontex is a global manufacturer and distributor of baby care and home care products with market positions in Europe, Brazil and Argentina. Its baby care portfolio includes teats, soothers, feeding bottles and other infant and health care accessories sold primarily under the NUK, Tigex, Lillo, Fiona and First Essentials brands. Its 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.