Deals
PolyOne to Buy ColorMatrix for $486 Million to Add Colorants
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PolyOne Corp., a U.S. supplier of plastics and resins, agreed to buy ColorMatrix Group Inc. for $486 million to broaden its offering to specialty additives and colorants used in packaging.
PolyOne is adding a business that had sales of $196.8 million and earnings before interest, taxes, depreciation and amortization of $43.6 million in the 12 months through June 30, the Avon Lake, Ohio-based company said in a statement today. Completion of the deal is expected by year end.