Effective immediately, the acquisition of the family-owned Australian company Colorific will add STEM, activity and DIY products to Goliath’s growing portfolio.
Goliath, a family-owned global toy and game company, has today announced the acquisition of Colorific, a family-owned STEM, craft, activity, pre-school and educational toy business based in Melbourne, Australia.
Established in 1990, Colorific has been a leader in innovative DIY products for over 30 years, having sold more than 50m products to over 40 countries. Colorific has won multiple product, supplier and business awards over the years, and in 2019 was inducted into the Australian Family Business Hall of Fame.
Mark Levi, Colorific’s managing director, said: “For some time we have been looking for a partner to replicate the success we have had here in Australia on a global scale. We are excited to have found the perfect match with Goliath, another innovative and highly successful family toy business. We would like to take the opportunity to thank our loyal customers, suppliers and amazing team members who have been with us for the journey.”
“The acquisition of Colorific by Goliath represents a great new chapter in our company’s story,” said Jochanan Golad, Goliath Group’s CEO. “With Goliath’s global distribution, we are well placed to bring Colorific’s innovative ranges to the world. We’re extremely excited to grow Colorific’s successful brands such as Build a Bot, Wood WorX, Kids Projects, Metal Worx, FairyLites, Watch Me Grow and more.”
Andrew Lee, Goliath’s director, Australia and New Zealand, added: “With Colorific’s innovative R&D division remaining in Melbourne, the acquisition will allow both sides to do what they do best – Colorific to continue to innovate and create great new toys and Goliath to promote, market and sell all over the world. We welcome our new colleagues to the Goliath family and look forward to building a great business together.”