Jarden Corporation's Outdoor Solutions division, which includes brands such as Camping Gaz, Coleman, Marmot, Tubbs, Atlas and others, reports sales of $494 million for the fourth quarter of 2008 compared with $570.2 million in the previous year's period. Operating loss improved from $21.5 million to $0.4 million. For the full fiscal year, sales were up by 46.1 percent to $2.5 billion. Operating earnings increased by 293.4 percent to $172.3 million due to the acquisition of K2. Deutsche Bank’s New York branch will be the new administrative agent for Jarden Corporation, replacing Lehman Commerical Paper, an affiliate of Lehman Brothers, which has filed for bankruptcy. Deutsche Bank will also take over all of Lehman’s administrative duties related to Jarden’s credit facility. Jarden has agreed to settle all of its outstanding claims against Lehman, former agent and revolving lender of the credit. Lehman accounted for less than 10% of the company’s total availability under its revolving credit facility. (Read more in the next issue of Sporting Goods Intelligence Europe)
