Jarden announced it has completed its $1.35 billion acquisition of disposable Tupperware manufacturer Waddington Group.
Jarden said it closed on $900 million of senior secured term loans — $300 million of which mature in 2020, with the rest maturing in 2022. Jarden funded the acquisition from its proceeds from financing of the term loans and its recent common stock offering.
According to a related 8-K filing, Jarden entered into an amendment to its existing credit agreement with a lender group led by Barclays Bank as administrative agent and collateral agent. The agreement comprised a tranche B-1 term loan increase of $300 million and a new tranche B-2 Term loan facility.
The Boca Raton-FL-based consumer products company, which owns brands like Yankee Candle and Crock-Pot, announced the agreement to buy Waddington Group from an investment fund managed by Olympus Partner on July 14, 2015.