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Jarden (JAH) Stock Soaring on $1.5 Billion Jostens Purchase

NEW YORK (TheStreet) -- Shares of Jarden Corp. (JAH - Get Report) are higher by 2.58% to $52 in pre-market trading on Wednesday morning, after the consumer products company announced it will acquire the privately held Visant Holdings Corp. for $1.5 billion.

Visant is the parent company of yearbook and school memorabilia maker Jostens.

Jarden is a Boca Raton, FL-based consumer products company with brands including Yankee Candle, Mr. Coffee, Sunbeam, Bionaire, Chub and more.

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The company will acquire Visant from the private equity firms KKR & Co. and APriori Capital Partners in a deal about 7.5 times Visant's earnings before interest, taxes, depreciation and amortization.

With this transaction Jarden will add a market leading, niche consumer brand to its portfolio that is expected to enhance the company's overall gross profit and EBITDA margins.

"We believe our approach to driving organic growth and creating value through continued investments in product development and innovation should underpin additional...