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Avient Corporation has acquired MagnaColours for $48 million. MagnaColours’ materials will join Avient’s existing specialty inks portfolio, alongside brands such as Wilflex and Rutland.
Robert M. Patterson, chairman, president and CEO, Avient, said: “Magna represents an important investment in sustainable solutions, as brand owners seek alternatives to legacy technologies. We are thrilled to have Magna join Avient. We expect our collective inks portfolio will grow substantially as the threat of COVID subsides, people can safely attend sporting and other live events in person, and travel increases.”
Tom Abbey, chairman of Magna, added: “While growing Magna, I had a goal to revolutionise the industry and promote sustainable options – our proven technology accomplishes that. With Avient, I have found a leader aligned with our sustainability values to take us to the next level and truly globalise the business. Avient was the clear choice, and I’m thrilled for Magna to begin its next chapter.”
Magna’s portfolio of water-based ink products offers sustainability benefits and unique characteristics without compromising performance.
