Israel’s Tosaf Group, a manufacturer of plastics additives, compounds and color masterbatches, has finalized the acquisition of US-based Adtec Colorant. Located in Arlington, Texas, Adtec manufactures specialty color concentrates, liquid and additive masterbatches for the injection-molding, blow-molding, film and extrusion markets. Financial terms were not disclosed.

Amos Megides, Tosaf’s chairman and CEO, commented: “This transaction represents another step in the fulfilment of our US market entry strategy following our earlier announcement of the construction of a new additives, white and color masterbatch plant in Bessemer City, North Carolina.”

He added that Adtec’s service offering would now be complemented by Tosaf’s many additional proprietary products as well as its extensive R&D capabilities.

Mahesh Parikh, founder and CEO of Adtec Colorant, said the acquisition would provide his company with rapid growth and enhance its products and technologies.

Tosaf is a joint venture between Megides Holding and Belgian plastics group Ravago with 10 manufacturing plants in Israel, Turkey, Germany, the Netherlands, the UK and China.