CLEVELAND — July 1, 2021— Avient Corp., 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. “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, England, 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.”
Posted July 1, 2021
Source: Avient Corporation