Avient Acquires Magna Colours Ltd
Avient Expands Sustainable Solutions Portfolio with Acquisition of Magna Colours Ltd.
Posted On
2nd Jul 2021
Categories
Company, General, 2021 Q3
Avient Corporation (NYSE: AVNT), a global provider of specialized and sustainable material solutions, today announced it has acquired Magna Colours Ltd. (“Magna”), for $48 million. Magna is a market leader in sustainable, water-based inks technology for the textile screen printing industry. The MagnaColours® materials will join Avient’s existing specialty inks portfolio, alongside prominent brands such as Wilflex® and Rutland®.
“Magna represents an important investment in sustainable solutions, as brand owners seek alternatives to legacy technologies,” said Robert M. Patterson, Chairman, President and CEO, Avient Corporation. “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.”
Founded in 1978 and based in Barnsley, United Kingdom, Magna has pioneered the development of next-generation water-based ink technology that provides innovative and high-performance solutions for leading brands and screen printers. Its portfolio of water-based ink products offers sustainability benefits and unique characteristics without compromising performance.
Tom Abbey, Chairman of Magna, commented, “While growing Magna, I had a goal to revolutionize 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 globalize the business. Avient was the clear choice, and I’m thrilled for Magna to begin its next chapter.”
About Avient
Avient Corporation (NYSE: AVNT), with expected 2021 revenues of $4.3 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Examples include:
Barrier technologies that preserve the shelf-life and quality of food, beverages, medicine and other perishable goods through high-performance materials that require less plastic
Light-weighting solutions that replace heavier traditional materials like metal, glass and wood, which can improve fuel efficiency in all modes of transportation
Breakthrough technologies that minimize wastewater and improve the recyclability of materials and packaging across a spectrum of end uses
Avient employs approximately 8,400 associates and is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic Waste and certified Great Place to Work®. For more information, visit www.avient.com.