Consumer-products company Jarden Corp. is acquiring Jostens, a school apparel and merchandise company, for about $1.5 billion.
The Minneapolis-area company will be Jarden’s second acquisition so far this year.
Jostens, which produces yearbooks, class and championship rings for students and professional athletes, caps and gowns, diplomas, and varsity jackets, is being acquired from investment funds managed by KKR, aPriori Capital Partners and other stockholders. The company generates $740 million in annual revenue, Jarden said.
The transaction is subject to customary closing conditions but is expected to close before year-end.
Jarden, based in Boca Raton, Fla., has more than 120 consumer brands, including Crock-Pot, Mr. Coffee, FoodSaver and Oster.
In July, Jarden completed its $1.35 billion acquisition of Waddington Group, manufacturer and marketer of premium disposable tableware.