MIAMI, Feb. 11, 2016 /PRNewswire/ -- Jarden Corporation
("Jarden" or the "Company") (NYSE: JAH), and Newell Rubbermaid (NYSE: NWL) on December 14, 2015 announced that they entered
into a definitive agreement to combine the two companies. The
transaction creates a $16 billion
consumer goods company to be named Newell
Brands and is expected to close in the second quarter of
2016.
Jarden expects to file a Form 10-K toward the end of February,
2016. In that filing Jarden will report final net sales and
earnings for 2015. Consistent with its guidance, the Company
expects that net sales for 2015 will be approximately $8.6 billion. The Company expects organic revenue
growth to be at the higher end of its targeted range of 3-5% and
adjusted earnings per share to exceed current Wall Street consensus
estimates. The Company anticipates generating cash flow from
operations towards the higher end of its previously provided 2015
guidance.
About Jarden Corporation
Jarden Corporation is a diversified, global consumer products
company with a portfolio of over 120 trusted, authentic brands.
Jarden's record of strong financial performance and organic growth
is supported by a focused operating culture coupled with value
enhancing acquisitions and shareholder focused capital allocation.
Jarden operates in three primary business segments through a number
of well recognized brands, including: Branded Consumables: Ball®,
Bee®, Bernardin®, Bicycle®, Billy Boy®, Crawford®, Diamond®,
Envirocooler®, Fiona®, First Alert®, First Essentials®, Hoyle®,
Kerr®, Lehigh®, Lifoam®, Lillo®, Loew-Cornell®, Mapa®, Millefiori®,
NUK®, Pine Mountain®, Quickie®, Spontex®, Tigex®, Waddington,
Yankee Candle® and YOU®; Outdoor Solutions: Abu Garcia®, AeroBed®,
Berkley®, Campingaz® and Coleman®, Dalbello®, ExOfficio®, Fenwick®,
Greys®, Gulp!®, Hardy®, Invicta®, Jostens®, K2®, Marker®, Marmot®,
Mitchell®, Neff®, PENN®, Rawlings®, Shakespeare®, Squadra®,
Stearns®, Stren®, Trilene®, Völkl® and Zoot®; and Consumer
Solutions: Bionaire®, Breville®, Cadence®, Crock-Pot®, FoodSaver®,
Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rainbow®,
Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White
Mountain®. Headquartered in Florida, Jarden ranks #348 on the Fortune 500
and has approximately 35,000 employees worldwide. For further
information about Jarden, please visit www.jarden.com.
Safe Harbor
This news release contains "forward-looking statements"
within the meaning of the federal securities laws and is intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's proposed combination with
Newell Rubbermaid, expected,
anticipated or estimated net sales, adjusted earnings per share,
organic revenue growth and cash flow from operations. These
statements are based on management's estimates and assumptions with
respect to future events and financial performance and are believed
to be reasonable, though are inherently uncertain and difficult to
predict. Actual results could differ materially from those
projected as a result of certain factors. A discussion of factors
that could cause results to vary is included in the Company's
periodic and other reports filed with the Securities and Exchange
Commission.
These preliminary estimates are based on the most current
information available to management as of the date hereof. Our
actual results may differ materially from these preliminary
estimates due to, among other things, the completion of our
accounting close and audit procedures, final adjustments and other
developments that may arise between now and the time that our
audited consolidated financial results as of and for the fiscal
year ended December 31, 2015, are
finalized.
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SOURCE Jarden Corporation