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Jarden to buy school products maker Jostens for $1.5 billion

Jarden, owner of brands including Sunbeam kitchen appliances and Coleman outdoor gear, said it would buy Visant, the parent of school products maker Jostens, in a $1.5 billion deal to expand its custom-made offerings.

Visant is owned by investment funds including those managed by investment firm KKR, aPriori Capital Partners and others.

Jostens, founded in 1897, makes products such as yearbooks, class rings, diplomas and varsity jackets, and generates annual revenue of about $740 million.

This is Jarden's second large acquisition this year. It said in July it would buy disposable tableware maker Waddington Group for $1.35 billion.

Jostens will be reported as part of Jarden's outdoor solutions segment.