Pulse boss Allen excited by Jarden deal

THE boss of newly-acquired household electrical products group Pulse Home Products, says its new owner, US Fortune 500 group Jarden Corp, will us it as a springboard into Europe.

New York State-based Jarden Corp swooped for Pulse in a deal completed in just eight weeks, and the transaction will be good news for Pulse staff, chief executive David Allen said.

“I am very excited – things have happened really quickly, but I am sure the acquisition will be excellent news as Jarden will use us, the management team at Royton, to lead the push into Europe.”

Allen said the value of the deal was “considerably more” than a £40m suggested.

“The management and Rutland (the private equity investor which held 80% of Pulse)  paid £51.5m for the business and we made a good return.”

The name of Pulse will be dropped though – but its brands, Breville, Dirt Devil and Nicky Clarke electrical products will remain.

Mr Allen said the North West operation would be the European base for  Jarden’s largest division, Jarden Consumer Solutions – which on its own has annual sales of £1.8bn.

JCS brands include Holmes and Bionaire, which make air purifiers, fans and heaters, Crock Pot, which makes slow cookers, and home appliances brand Sunbeam, which makes everything from irons to bread makers.

Pulse brands will be sold via Jarden’s existing distribution channels in Spain, France and Scandanavia, while also seeking new markets for both firm’s products on the continent.