Jarden Corporation, a diversified, global consumer products company, acquired Jostens, an American manufacturer of memorabilia, from KKR for $1.5bn. Martin E. Franklin, Jarden's Founder and Executive Chairman, commented, "We are delighted to announce this acquisition, which is consistent with our fourteen-year track record of success in acquiring businesses with category-leading positions in niche markets at compelling valuations. Jostens is an iconic brand with strong relationships in the education and achievement channel, coupled with an attractive financial profile. We believe our approach to driving organic growth and creating value through continued investments in product development and innovation should underpin additional meaningful long-term value from this acquisition. Jostens' experienced and talented management team provides a cultural fit with Jarden, in addition to the business offering a compelling financial and strategic value proposition."