Carolina Color announced the acquisition of Chroma Corporation which is headquartered in McHenry, Illinois. The deal was backed up by Arsenal Capital Partners. The acquisition is expected to be fruitful to both the companies.
As per George Abd, Chair of the Board of Carolina, the strong brand image of Chroma along with their strong color businesses Hudson, Breen, and Carolina Color, will boost the strategy execution of manufacturing the best colorants. Also, as per the president of Carolina Color, the inorganic growth strategy will continue and any firm with efficient and effective colorants business in their geographic region will be targeted. The major goal is to become the finest colorants company to meet the demand of both large and small players in the plastic industry.
Chroma has catered to all the color solutions for its corporate headquarters for around 50 years and more. Chroma manufactures customized additive concentrates, dry colors, pre-color compounds, and masterbatch colors for its various markets, such as packaging, automotive, electronic, medical, safety, consumer products, and recreational industries.
The CEO of Chroma expressed reluctance to sales when they were approached by Carolina Color. Later, they changed their mind and accepted the acquisition offer owing to the understanding of their clear vision and mission after a meeting. Also, the employee’s dedication and caliber impressed the CEO and he has had an experience of working with the team in the past, tilting the trust towards the unification. The excitement is on board to work with the Carolina Color team and together take the business ahead.
About Carolina Color Corporation – The firm has four major business segments, namely Carolina Color, Breen, Hudson, and newly joined Chroma. There are various manufacturing facilities spread all over the US. In the second half of 2017, the Carolina Color was acquired by the Arsenal Capital Partners.
— Vasundhra Singh,
Assistant Research Executive,