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Platinum Equity to Acquire Jostens From Newell Brands

November 7, 2018

LOS ANGELES, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Platinum Equity today announced it has signed a definitive agreement to acquire Jostens from Newell Brands in a transaction valued at approximately $1.3 billion. The acquisition is expected to be completed in the fourth quarter, subject to customary closing conditions, including regulatory approval.

Jostens, based in Minneapolis, MN, is a trusted partner in the academic and achievement channel, providing products, programs and services that help its customers celebrate important moments. The company’s products comprise yearbooks, publications, jewelry and consumer goods that serve the K-12 educational, college and professional sports segments.

“For more than a century, Jostens has helped people commemorate the most important moments in their lives, from high school graduations to NBA championships,” said Platinum Equity Partner Louis Samson. “It’s an iconic brand with passionate employees and a strong connection to its customers. We look forward to partnering with management and deploying our financial and operational resources to help the company maximize its potential.”

Established in 1897, Jostens was originally founded to repair customer’s keepsake jewelry. Since then, the company and the Jostens brand have grown to become synomymous with tradition, storytelling and celebrating achievements. Jostens’ 2017 net sales were $768 million.

“I am confident that Platinum Equity is the perfect partner to help Jostens write the next chapter of a success story that goes back more than 100 years,” said Jostens CEO Chuck Mooty. ”They’ll bring new resources and a fresh perspective, backed by a track record of helping companies like ours thrive as a standalone business.”

Platinum Equity is a leading global private equity firm with a highly specialized focus on business operations and more than 20 years’ experience acquiring and operating businesses that have been part of large corporate entities. The firm recently acquired Lifescan from Johnson & Johnson for $2.1 billion, and earlier this year completed corporate carve outs from Pitney Bowes, Genon, Ball Corporation and Wyndham Worldwide Corporation, among several other investments.

Latham & Watkins is serving as legal advisor to Platinum Equity on the acquisition of Jostens.

About Platinum EquityFounded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 200 acquisitions.

Contacts:Dan Whelan, Platinum Equity(310) 282-9202

dwhelan@platinumequity.com

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