Avient Corp. agreed to acquire the business for an enterprise value of €1.44 billion, or about $1.55 billion.

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Representative imageImage courtesy of Kristoffer Tripplaar / Alamy Stock Photo

Nutrition and materials company Royal DSM has struck a deal to divest its Protective Materials business to specialty polymer formulations firm Avient Corp. for an enterprise value of €1.44 billion (about $1.55 billion).

If the transaction moves forward, the deal will include all of DSM’s Protective Materials business, including Dyneema fibers. DSM announced it was reviewing its strategic options in September 2021.

“Dyneema’s discovery by DSM scientists in the 1960s has resulted in a great business and a brand that is leading the development of ultra-strong bio-based and circular materials. This agreement is a testimony to the contribution of employees worldwide over the decades,” Geraldine Matchett and Dimitri de Vreeze, co-chief executive officers of Royal DSM, said in a company release.

DSM is slated to receive €1.33 billion net in cash following the transaction’s close after transaction costs and capital gains tax. The company expects the deal to close in the second half of 2022.

“We are very pleased to have reached agreement to acquire DSM Protective Materials and lead this exceptional business into the future.,” said Robert M. Patterson, president and CEO of Avient, in a statement. “We are eager to continue investing in innovation and sustainable solutions, further accelerating the remarkable impact and possibilities of the business and Dyneema brand.”

Powder & Bulk Solids reported that sold its Resins & Functional Materials business to polymer producer Covestro in September 2020 for an equity value of €1.6 billion (or about $1.8 billion in 2020 dollars).

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Powder Bulk Solids Staff

Established in 1983, Powder & Bulk Solids (PBS) serves industries that process, handle, and package dry particulate matter, including the food, chemical, and pharmaceutical markets.

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