Jarden Corp., a sprawling consumer-brands company that sells everything from Coleman grills to Rawlings baseball mitts, is adding yearbooks and class rings to its lineup.

The company agreed to pay about $1.5 billion for Visant Holding Corp., which owns the school-memorabilia maker Jostens, from private-equity firms KKR & Co. and APriori Capital Partners. The deal amount, which includes debt, is about 7.5 times Visant’s earnings before interest, taxes, depreciation and amortization, Jarden said in a statement Wednesday.

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