Jarden CEO Weighs In On Acquiring Waddington Group For $1.35 Billion

Jarden Corp JAH announced on Sunday that it will be acquiring plastic utensils maker Waddington Group Inc. in a deal valued at about $1.35 billion.

Martin Franklin, Executive Chairman of Jarden, was on CNBC recently to discuss this deal.

A Great Fit

"We have about a 120 brands. I mean, this is a great fit for our company," Franklin began. First of all the culture of Waddington is very similar to us [that's] entrepreneurial, it's been a strong growing company. But the reality is their products is [is] their products fall very well into our portfolio, but they take us in some new areas like the B2B market which, I think, is a great opportunity for us long-term."

He continued, "We have cross-channel opportunities, cross-selling from a lot of their products into our channels and vice versa and then we are a far more global business that we have geographies that we can take that business to the [...] that help bring organic growth. I think, that they got a great strong management team. Team is going to be continue to stay with the company. They got a lot of unique technologies. It's a very [...] business, it fits very well for us."

Too Many Brands?

Franklin was asked if there can be a case when a company has too many brands under its umbrella. He replied, "Look, I'd say for Jarden we still feel we have plenty of capacity. I think, it's the way you want to organize one's business. You can find some companies with 5 brands where they think they have got two too many and then quite the opposite."