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Cramer Remix: The newest king of the food aisle

There are few things in this market that are harder than reinventing a business, but Jim Cramer sees reinvention as the driver behind the activity on the averages lately.

On Monday morning, Pfizer moved to reinvent itself when it agreed to purchase Allergan in an all-stock deal to create a colossus with a low-tax Irish domicile.

Allergan will provide a whole host of new drugs, including Botox, which has gotten more expensive of late, even as the company keeps coming up with new ways to use the drug beyond wrinkles and migraines. Cramer suggested that Pfizer could now split itself into a slow-growth, old-drug company, and a new, fast-growth pharma company following the merger.

However, the market did not like the deal because Allergan already has so much going on its own and partially because it is fairly dilutive for Pfizer, given the length of time until the deal closes.

"I know that my charitable trust bought Allergan because we believed in [CEO Brent] Saunders' big number vision for the future. I still do, but the tie-up with Pfizer seems to make the turn more convoluted. Reinvention in progress?" the "Mad Money" host said.

Some reinventions happen on the fly. On Tuesday, both Hormel Foods and Campbell Soup report, both of which are joining General Mills in the frantic bid to be more natural and organic.

"To me Campbell Soup is a buy even if it doesn't blow away the numbers because it's work in progress that I think will ultimately be successful," Cramer said.

Read MoreCramer: Can Pfizer reinvent itself with Allergan?

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Allergan and Pfizer weren't the only companies with a big merger announcement on Monday. Investors also learned that Diebold, the largest manufacturer and servicer of ATMs in the U.S. and many other countries along with a physical security business, is buying Wincor Nixdorf.

Wincor Nixdorf is a German company that is a leading provider of hardware, software and services to banks and retailers, including ATMs. Diebold purchased Wincor for $1.8 billion in cash and stock.

Diebold has been in the process of a massive multi-year transformation, and this latest acquisition is its latest step. Could it be a turnaround for the stock? To learn more, Cramer spoke with the company's CEO, Andy Mattes.

"We are shifting our revenue mix from hardware to software and services. And the second thing is that we are doubling down on our portfolio and making sure we are getting the right elements into our portfolio that will have higher margin business opportunities going forward," Mattes said.

Cramer thinks the economy psychology behind the massive runs in FANG — his acronym for Facebook, Amazon, Netflix and Google, now Alphabet — should become a case study in how stocks don't divorce themselves from fundamentals, but they develop scarcity value.

"These high-flying stocks become something akin to modern art or professional sports teams, valuations that, while they can't be explained by simple numbers, can be absolutely understood from the perspective that there just aren't enough of them to go around," the "Mad Money" host said.

This mindset is much like a classic painting. The availability, or lack thereof, sets the price.

Cramer thinks the same valuation could be applied to FANG.

"It's not just that all of these companies are doing very well. It is that no other recent vintage tech company or Internet iteration is really challenging them for supremacy," Cramer said.

Read More Cramer: The psychology of why FANG is so valuable

Pedestrians walk past the IBM building in New York.
Scott Mlyn | CNBC
Pedestrians walk past the IBM building in New York.

Even the most troubled companies out there can turn themselves around, but first they need to know how. That is why Cramer set his sights on IBM, the old-line technology company that has been stuck in a brutal downtrend in the past two years.

"Mainly, IBM has spent its money buying back an insane amount of stock. They should consider changing the name to International Buyback Machines," the "Mad Money" host said.

Cramer thinks there is a more positive and constructive approach that IBM can take to turn things around. In order for that to happen, management needs to put its money to work more intelligently. If IBM's business is declining, then buying back stock isn't going to fix anything.

"While IBM has made a huge string of acquisitions, I think that they haven't thought big enough," Cramer said. (Tweet This)

That is why Cramer decided to provide IBM CEO Virginia Rometty with his shopping list of five tech companies that IBM should acquire in order to get its mojo back.

Read More Cramer: Hey, Ginni Rometty, here's how to fix IBM

Deluxe Corp turned 100 years old on Monday and rang the bell at the New York Stock Exchange to mark its anniversary. The company used to be a check-printing play, but in recent years, it has expanded into additional areas and now offers a whole suite of products and services designed to help small businesses and financial institutions grow.

While Deluxe shares are down 6 percent for 2015, its transformation continues. To learn more about what could be in store going forward, Cramer spoke with Deluxe CEO Lee Schram about its approach to helping small businesses.

"What we are trying to do is actually get involved earlier in the workflow. So, what we want to do is get to the point with helping with branding, promoting and selling themselves. We used to only help with operating, with checks, now we are moving earlier in that workflow and that is what is really getting them excited," Schram said.

In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:

Royal Dutch Shell: "I just think that they have not acquitted themselves all that well during this downturn. I cannot emphasize enough that I think that they have not done a good job."

ConforMIS: "I still think that the custom made knee implants, we like that company. But I understand, this is a market that likes the bigger cap guys. And I would rather see you in a bigger cap biotech."

Read MoreLightning Round: It has not done a good job in a downturn