Goliath, one of the few remaining, family-owned global toy and game companies, has announced the acquisition of Colorific, a family-owned STEM, craft, activity, preschool, and educational toy business based in Melbourne, Australia, effective immediately.
Colorific, established in 1990, has been a leader in innovative DIY products for over 30 years, 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 Colorific 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 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, FairyLites, Watch Me Grow and more.”
Andrew Lee, Goliath 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.”