Jarden shares rise after $60M purchase of cooler maker
Shares of Rye-based Jarden Corp. climbed 35 cents, or .64 percent, Thursday morning after a private equity firm disclosed that it had sold the company its Lifoam Industries unit, a maker of freezer packs, foam picnic coolers and Wacky Noodles pool toys.
Bethesda, Md., private equity firm American Capital said Jarden paid $60 million in debt and stock in a deal that closed Dec. 31.
Lifoam is based in Hunt Valley, Md.
Jarden, ranked 371 on the Fortune 500, has a broad portfolio of consumer products, including Sunbeam and Oster appliances, Coleman camping equipment and Bicycle playing cards.
Jarden did not immediately respond to a request for comment.