On 30 January 2012, US compounder and distributor A. Schulman (Akron, Ohio; www.aschulman.com) announced that it had entered into a definite agreement to acquire French specialist colour masterbatch producer Elian SAS (Bellignat, Oyonnax; www.elian-thevitagroup.com) – a member of Britain’s Vita Group (London; www.thevitagroup.com). The transaction, valued at EUR 48m (USD 63m) in cash, is expected to close in early February and forecast to generate about USD 2.5m in annual run rate synergies in fiscal 2013, A. Schulman said.

The US company’s CEO Joseph Gingo called the acquisition an excellent strategic fit, adding that it “will move us into the number three position in France’s colour masterbatch market.” Gingo also said A. Schulman’s strategic goal was to become the world’s leading masterbatch manufacturer and would continue to seek out acquisitions in order to achieve that goal.

Founded in 1949, Elian produces specialty formulated colour concentrates for use in end markets such as healthcare, cosmetics, packaging, pipes, tubing and personal hygiene. Once the transaction is complete, the company will join A. Schulman’s existing European colour operations in Belgium, Sweden, Poland, Hungary, the UK and Italy.