Earlier this year, Newell-Rubbermaid and Jarden merged to create a pastiche of over 100 brands, under the name of Newell Brands. With the stock up more than 18 percent this year, Jim Cramer could not be more pleased.

"That is why I have put my charitable money where my mouth is and bought it for ActionsAlertsPlus.com, and it is why I think it would make a great addition to your portfolio, too," the "Mad Money" host said.

Multiple analysts who cover the sector initially hesitanted to get behind Newell Brands, either because they feared the complexity of integrating the companies, or because they didn't like how much money Newell borrowed to pay for Jarden.

But Cramer noted that the deal would create synergy between the companies, boost earnings and diversify the company's portfolio of products. To him, the positives outweighed the negatives.

The deal increased scale globally for Newell Brands, giving it more bargaining power with distributors and the ability to compete oversees and digitally. Newell Brands is now 2.2 times larger with its key strategic customers and 2.4 times as large in the company's top-12 geographies.

Additionally, many of the companies' brands complemented one another. Both Jarden and Newell-Rubbermaid catered to baby care, commercial products and kitchenware.

Even better, when Newell Brands said it expects to see about $500 million in cost synergies, Cramer thinks that number is conservative. Typically with large mergers within the packaged goods sector, there is a 5 percent total reduction in costs, which could mean more like $700 million in savings for Newell Brands.

Management was also confident that the deal would add significantly to earnings once the businesses are done integrating. The old Newell-Rubbermaid was very disciplined with keeping a narrow focus, though Jarden wasn't willing to sell extraneous brands. Cramer wouldn't be surprised to see Newell Brands sell off some of the tepid businesses it inherited from Jarden now.

As for analyst concerns that it would be too hard for Newell-Rubbermaid to absorb Jarden for the complexity, Cramer disagreed. Both companies were working on acquisitions at the time the merger was announced. Newell was buying Elmer's and Jarden was buying Jostens.

Thus, the fact that they managed to get the merger done while handling other deals impressed Cramer, as it speaks to the ability to make the combined deals work.

On its latest conference call in July, the company's CEO Mike Polk said it could deliver on the high end of the range for a $50 million to $80 million full-year cost synergy guidance.

"That sounds very good to me, and if the commentary sounds similar when Newell Brands reports again a month from now, than I think the bears will need to eat some serious crow," Cramer said.

Ultimately Cramer found Newell Brands a cheap consumer goods stock with a 14.5 percent long-term growth rate, great management and fabulous cost-saving catalysts in the pipeline.

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