"The combination of brands is pretty powerful," he told CNBC's "Squawk on the Street." "I like this deal."
Cramer said that a lot of the motivation for this merger is about gaining more control from big box stores and discounters, like Wal-Mart.
"Almost every major household aisle is going to be this company. You're going to have a hard time finding stuff that isn't this company."
Newell Rubbermaid said it will buy Jarden in a cash-and-stock deal that could lead to annual cost savings of about $500 million over four years.