Kafrit Group has started 2024 with two materials acquisitions in two months with a deal for Badger Color Concentrates Inc. following a January acquisition of a Canadian compounder.
Mukwonago, Wis.-based Badger makes color concentrates and liquid colorants. The firm has annual sales of $40 million and employs more than 180 at plants in Mukwonago and in Kings Mountain, N.C.
In a news release, Kafrit officials said that the purchase will strengthen the firm's color masterbatch business and extend its presence in North America.
The acquisition "marks a significant milestone to Kafrit Group's global growth journey, adding a complete line of specialty color and additive concentrates to its already highly differentiated polymer solution portfolio," they added.
Kafrit CEO Daniel Singer said that the purchase "aligns with our strategy to strengthen our position as a service and technology leader to the global plastics industry."
Badger president and former owner Mike Madey will lead the integration into Kafrit as general manager. He said the sale "is a natural evolution for our company, as it brings together complementary and competitive strengths."
Kafrit is based in Negev, Israel. The firm makes a wide range of compounds and color and additive concentrates. Kafrit employs 550 worldwide, with annual sales of more than $300 million and annual production capacity of 320 million pounds.
In January, Kafrit's Kafrit Industries Ltd. unit acquired ABSA Resin Technologies Inc., a compounder and recycler based in Cambridge, Ontario. Kafrit was founded in 1973 and has been listed on the Tel Aviv Stock Exchange since 1993.