TopGum expects the acquisition to expand its technological and manufacturing capabilities and creates a supply chain across two continents.
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In a January 27, 2025, press release1, gummy supplement manufacturer TopGum announced its acquisition of Island Abbey Nutritionals. Located in Price Edward Island, Canada and founded in 2004, Island Abbey Nutritionals is a CDMO that specializes in delivery formats for dietary supplement gummies and lozenges. With the acquisition, TopGum's annual revenue run-rate is anticipated to surpass $100 million.
The acquisition will help strengthen TopGum’s goal to expand its presence in US markets. “Island Abbey brings a unique combination of strategic customers, advanced technologies, and a professional, experienced team,” stated Eyal Shohat, CEO of TopGum, in the press release. “Together with TopGum’s longstanding expertise, this partnership opens new horizons for innovation and growth. Our combined teams will continue to develop advanced solutions that deliver a wellness experience that is fun, easy, and tasty. We are reinforcing our commitment to our business partners and customers worldwide as we embark on this exciting new chapter in TopGum’s global growth story.”
TopGum highlighted Island Abbey’s 65,000 square ft facility, which adheres to FDA, NSF, GMP, SQF, and Health Canada certifications standards, and also features starchless depositing, center-fill capabilities, and automated bottling and other manufacturing technologies.
It also noted the company’s growth under current CEO of Island Abbey, Dean Williams. “We are deeply impressed by Island Abbey’s journey, particularly under Dean’s leadership,” stated Hagai Stadler, chairman of TopGum. “We are proud to welcome Island Abbey to the TopGum family. Together, we will build on Island Abbey’s legacy and create a vital component of TopGum’s mission to become a dominant global player in the supplement industry.”
Dean Williams will join the leadership team at TopGum and also lead Island Abbey’s 95 employees. “I’m honored to be part of this pivotal moment for Island Abbey,” stated Williams. “This acquisition reflects our success in advancing supplement solutions across Canada and the US. The combination of these two entities is poised to redefine the gummy supplement market.”
“This acquisition is a steppingstone to realizing our vision of leading the gummy supplement revolution,” added Stadler. “I extend my gratitude to the shareholders of Island Abbey for their trust, and to everyone involved in executing this transaction.”
The transaction is anticipated to close in the first quarter of 2025. TopGum will pay $20 million and, based on Island Abbey’s 2025 results, an earnout payment. While utilizing TopGum’s resources, Island Abbey will continue its operational independence.
Specializing in plant-based, non-GMO, and allergen-free gummies, TopGum supplies to brands in more than 20 countries.
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