Global toy and game company Goliath inked a deal to acquire Australian STEM craft and activity company Colorific.
Colorific has specialized in DIY products since 1990, having sold more than 50 million 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.
“With Colorific’s innovative research and development 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,” says Andrew Lee, a director at Goliath. “We welcome our new colleagues to the Goliath family and look forward to building a great business together.”
Goliath will help expand Colorific’s popular brands such as Build a Bot, Wood WorX, and Watch Me Grow to the global market, as well as facilitate the production and creation of new brands.
