“This strategic acquisition marks an important transformation for our company as we grow our European manufacturing and distribution footprint. More importantly, it helps us provide our customers with a broader portfolio of high-performance, sustainable products to meet increasing demand,” said Phil McDivitt, Ascend’s president and CEO.
Poliblend was founded in 1999 and offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging and fibers. Its certifications include ISO 9001, ISO 14001 and ISO TS 16949.
“The ability to offer our sustainable products in an ever-changing global business environment is a game changer for Ascend,” said John Saunders, Ascend’s European leader.
Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team.
“This is an exciting chapter for Poliblend. Combining the shared expertise of our companies creates opportunities to expand our reach while continuing to provide the high-quality products and service that our customers have come to trust,” said D’Ottavio.
Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.