![]() ![]() Once the acquisition is complete, Jostens will become part of Jarden’s Outdoor Solutions segment. Jarden will pay about 7.5 times the value of Jostens’ adjusted earnings, officials said. will add about $740 million in annual revenue to the $9.3 billion Jarden. ![]() “Jostens’ experienced and talented management team provides a cultural fit with Jarden, in addition to the business offering a compelling financial and strategic value proposition,” he said.Ĭombined, Jostens and sister company Neff Co. Jarden CEO Martin Franklin said in a statement that Jostens, founded in 1897, will be a good fit. Jostens has 3,500 employees nationwide, including nearly 800 in Minnesota, Mooty said. “Jarden’s scale and track record of making long-term investments will provide Jostens the ability to innovate and develop powerful new products and services to accelerate our growth.”Īs a result, no layoffs are expected. Their history is to nurture and to nourish great brands,” he said. He believes Jarden will continue the sales improvements that were seen this year. This year, the company halted the sales decline and even grew a bit, he said.īy introducing new digital apps for students, better administrative support for independent sales reps and new customized class jewelry, “we have stabilized the business and now we have to grow the business,” Mooty said. Mooty started in January 2014 at Jostens, which had seen sales decline from $850 million a decade ago to about $700 million last year. ![]() “It will be fabulous,” said Jostens CEO Chuck Mooty, the well-known Minnesota businessman who also led turnarounds at Dairy Queen, Fairview Health Services and Faribault Woolen Mills. Coffee, Oster kitchen products, Marmot and Rawlings sporting goods and Yankee Candle gifts. In buying Visant Holding, Jarden gains a well-known consumer brand to add to its arsenal of 120 product lines, including heavyweights such as Mr. Jostens, with operations in Edina, Eagan and Owatonna and 3,500 workers nationwide, is the main operating unit of Visant Holding Corp., a holding company owned by KKR, aPriori Capital Partners and other private investment firms. in a $1.5 billion deal, the companies said Wednesday. Jostens, the once-troubled Edina maker of class rings and yearbooks, will be sold to Jarden Corp. ![]()
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