Carolina Color Corp. (Salisbury, SC) announced on July 9 that it had acquired Chroma Corp., a specialty color and additive concentrates business based in McHenry, IL, serving packaging, electronics and other markets. Terms of the transaction were not disclosed.
“We are pleased to see Chroma, with its solid reputation in the Midwest, join our incredibly strong color businesses—Carolina Color, Breen and Hudson—which were combined last year into Carolina Color,” stated George Abd, Chairman of the Board of the company. “By combining these businesses that bring great product technology and reputations in the industry, we continue to execute our strategy of building the finest colorant company serving our markets. We are especially pleased to add the Chroma facility and team in McHenry, IL, to our company as a strong base from which to grow and better serve our Midwest customer[s].”
Howard DeMonte, President of Carolina Color, commented, “We will continue to acquire key businesses with the capabilities and resources in locations that complement our current portfolio with the singular goal of meeting the colorant needs of both large and small plastics converters.”
Chroma produces custom formulated masterbatch colors, dry colors, additive concentrates and pre-color compounds for the packaging, electronic, safety, automotive, recreation, medical and consumer products industries.
“We are exceedingly pleased to become part of this exceptional business,” stated Chroma CEO Tom Bolger. “We were not considering a sale when approached, but we quickly warmed to the idea after meeting the team, hearing the vision and reviewing Carolina Color’s considerable progress.
“Additionally, I worked with several of the key executives at Carolina Color earlier in my career and know them to be very talented, high-caliber people. I could not be more excited to remain with the company and I look forward to working with the entire Carolina Color team as we move the company forward together,” said Bolger.