An Irish badge company that supplies crests to the national rugby team and to Premiership soccer clubs in Britain has been acquired by US multinational Illinois Tool Works. The company refused to disclose the purchase price.

Chris Kay Ltd, based in Kinsale Co Cork, was established 22 years ago and has become a world leader in "flock" crest transfers.

It employs 130 in Cork and a further 100 in four overseas sales and manufacturing offices.

The deal represents a major shift in direction by ITW, as it is its first move into the lucrative global sportswear market, said Mr Jeremy White, general manager of Chris Kay.

The company reported an operating profit of €180,584 in 2002 from €154,069 in 2001, according to filed accounts.

Other clients include Real Madrid, the FAI and several GAA club teams. It also makes crests for sportswear groups such as Adidas.

In addition to its plant in Cork, Chris Kay has a manufacturing site in China, supplying local markets. A number of graphic designers are employed in Kinsale, working with sportswear brands on logo designs.

Chris Kay has declined to name the acquisition price though it said the figure was in the millions of euro.

It recently renewed a three-year exclusive licence for the Premiership while several sides participating in the forthcoming European Championships will be sporting its badges.

Mr White said the move would strengthen the Kinsale operation and underpin the future of its workers.

The venture was founded by Mr Chris Kay, who is listed as a director along with Mrs Marina Kay and Mr Eddie Clark.