Jarden buying disposable tableware maker Waddington Group for about $1.35B

MarketsAssociated Press

Jarden is buying disposable tableware maker The Waddington Group Inc. for about $1.35 billion as it looks to get into the business-to-business market more.

Waddington, which makes disposable tableware for commercial, foodservice and retail markets, will become part of Jarden's branded consumables unit.

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Jarden Corp., a consumer products company, said Monday that the transaction is expected to immediately add to adjusted earnings per share "in a small way" in 2015 and by about 5 percent next year.

The deal is targeted to close in the third quarter.