TopGum acquires Abbey Nutritionals to enhance supplement gummies and lozenges portfolio
(Image credit: Abbey Nutritionals).
Israeli gummy supplements manufacturer TopGum Industries has acquired Island Abbey Nutritionals, a contract development and manufacturing organization specializing in supplement gummies and lozenges, located in Prince Edward Island, Canada.
The acquisition significantly expands TopGum’s manufacturing and technological capabilities in the nutritional gummy space, creating an integrated supply chain with production, bottling, and warehousing capabilities across the US and Canada.
TopGum will pay US$20 million plus an earn-out payment based on Island Abbey’s 2025 results.
Following the transaction, TopGum forecasts it will drive its annual revenue run rate past US$100 million. Pending all required regulatory and third-party business approvals, the company expects to close the deal in Q1 2025.
“Island Abbey brings a unique combination of strategic customers, advanced technologies, and a professional, experienced team,” says Eyal Shohat, CEO of TopGum.
“Together with TopGum’s long-standing 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.”
Gummy manufacturing technologies
Founded in 2004 by CEO Dean Williams, Island Abbey operates a state-of-the-art facility spanning 65,000 ft², in which it invested tens of millions of dollars in the last couple of years.
Equipped with advanced manufacturing technologies, including starchless depositing, center-fill capabilities, and automated bottling and packaging lines, the facility adheres to quality standards such as US FDA, NSF, GMP, SQF, and Health Canada certifications.
Island Abbey will maintain its operational independence while leveraging TopGum’s global reach and resources as part of the deal.
Island Abbey’s 95 employees will remain in place, led by CEO Dean Williams, a consumer goods and nutritional supplement industry veteran. Williams will be joining TopGum’s executive leadership team.
Advancing in Canada and US
“I’m honored to be part of this pivotal moment for Island Abbey,” says 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.”
“We are deeply impressed by Island Abbey’s journey, particularly under Dean’s leadership,” says 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.”
“This acquisition is a stepping stone to realizing our vision of leading the gummy supplement revolution. I extend my gratitude to the shareholders of Island Abbey for their trust and to everyone involved in executing this transaction.”
Top Gum’s innovation portfolio includes its fiber-based Gummiceuticals, TopCaps microencapsulation technology, and high-dosage active ingredients. It specializes in plant-based, non-GMO, and allergen-free gummies.
Last October, TopGum launched its clean label HoneyGum functional gummies with pure liquid honey and natural wellness ingredients. Speaking with Nutrition Insight, Eyal Shohat, the company’s CEO, discussed the product formulation and emerging consumer interest in honey as a natural supplement ingredient.
The company provides bespoke gummies to the dietary supplement industry in over 20 countries. It is listed on the Tel Aviv Stock Exchange and is jointly owned by AP Partners, Discount Capital, Arkin Investments, Chai Hayon, and Roi Lusternik.
