Abstract: A multistage core-shell particle consisting of a core, a first shell and optionally a second shell, substantially free from vinylically unsaturated compounds having at least two equally reactive double bonds, wherein: (i) the core contains a first (meth)acrylic polymer, (ii) the first shell contains a low Tg polymer comprising 0 to 25% by weight of a styrenic monomer and 75 to 100% by weight of a (meth)acrylic monomer, the (meth)acrylic monomer capable of forming a homopolymer having a glass transition temperature (Tg) in the range from −75 to −5 C, and which first shell represents more than 65% by volume of the combined volume of the core and first shell; (iii) the second shell, when present, contains a second (meth)acrylic polymer which may be the same or different from the first (meth)acrylic polymer, and (iv) the core and first shell together contain from 0.5 to 1.0% by weight of a graft-crosslinker.