Newell Rubbermaid is the parent company for writing equipment brands Parker and Waterman, but it has now paid 13 billion dollars to acquire American company Jarden, which manufacturers Campingaz among other things.
14.6 billion euro turnover together
A consumer goods merger is on the horizon, creating a company worth several billions in turnover. American Newell Rubbermaid, known for its Parker, Waterman and Rotring pens, its Dymo maps and its Rubbermaid kitchen boxes, is keen on Jarden.
Jarden on the other hand is established in camping equipment, like its Campingaz gas bottles and its Coleman tents, lanterns and cooking fires. It also owns snowboard manufacturer Völkl and manufacturers playing cards, household appliances and sporting / outdoor products.
To acquire Jarden, Newell Rubbermaid will pay 13 billion dollars (11.8 billion euro), both in cash and shares. Jarden's current market value is 11.6 billion dollars, while Newell Rubbermaid is worth 12.1 billion dollars. The merger company will have a 16 billion dollar turnover, some 14.6 billion euro. However, the deal is subject to approval from the American antitrust authority.