Pursuits
Jarden to Buy Yearbook Maker Jostens for About $1.5 Billion
- Jostens, founded in 1897, generates $740 million in sales
- Jarden will sell other brands through Jostens' 40,000 schools
Students sit with their new yearbooks.
Photographer: Stacey Wescott/Chicago Tribune/TNS via Getty ImagesThis article is for subscribers only.
Jarden Corp., a sprawling consumer-brands company that sells everything from Coleman grills to Rawlings baseball mitts, is adding yearbooks and class rings to its lineup.
The company agreed to pay about $1.5 billion for Visant Holding Corp., which owns the school-memorabilia maker Jostens, from private-equity firms KKR & Co. and APriori Capital Partners. The deal amount, which includes debt, is about 7.5 times Visant’s earnings before interest, taxes, depreciation and amortization, Jarden said in a statement Wednesday.