TopGum makes a strategic leap into North America with the acquisition of specialist gummy supplements and lozenges company Island Abbey Nutritionals.
The new acquisition will strengthen TopGum’s position as one of the leading CDMOs in the gummy supplements and lozenges industry with an annual revenue run rate exceeding $100 million.
This strategic acquisition significantly expands TopGum’s technological and manufacturing capabilities, strengthening its position as a leading global provider of innovative gummy supplements.
The transformative acquisition marks an important milestone in TopGum’s journey to revolutionize the dietary supplements industry.
It serves as a cornerstone in TopGum’s strategy to drive growth of the “Enjoyables” supplements segment through organic expansion and strategic acquisitions.
The transaction is expected to drive TopGum’s annual revenue run rate above $100 million, further cementing its position as the partner of choice for top-tier brands and customers around the world.
Island Abbey’s Pioneering Innovation
Founded in 2004, Island Abbey has established itself as a leader in gummy and lozenge delivery formats for dietary supplements. Under the leadership of CEO Dean Williams, it has seen remarkable growth in recent years, driven by its operational and R&D excellence.
Island Abbey operates a state-of-the-art facility spanning 65,000 square feet, into which tens of millions of dollars have been invested over the past several years. Equipped with advanced manufacturing technologies, including starch-free warehousing, central filling capabilities, and automated bottling and packaging lines, the facility adheres to strict quality standards such as FDA, NSF, GMP, SQF, and Health Canada certifications.
Strategic Synergies
The acquisition reinforces TopGum’s strategic focus on deepening its presence in the US market. By integrating Island Abbey’s advanced capabilities, TopGum will establish an integrated supply chain with production, bottling and warehousing capabilities on two continents.
The combined expertise and expanded capacity will enable TopGum to meet the growing global demand for differentiated, high-quality gummy supplements, delivering exceptional taste and reliability to its partners.
Breaking New Ground
Island Abbey brings a unique combination of strategic customers, advanced technologies and a professional and experienced team.
Together with TopGum’s extensive experience, this partnership opens new horizons for innovation and growth. Our combined teams will continue to develop advanced solutions that deliver a fun, simple and tasty wellness experience.
We are reinforcing our commitment to our business partners and customers around the world as we embark on this exciting new chapter in TopGum’s global growth story.
As part of the transaction, Island Abbey will maintain its operational independence while leveraging TopGum’s global reach and resources. Island Abbey’s 95 employees will remain in their positions, led by CEO Dean Williams, a veteran of the consumer goods and nutritional supplements industries.
Williams will join TopGum’s executive leadership team. I am honored to be a part of this pivotal moment for Island Abbey.
Said Dean Williams, CEO of Island Abbey.
This acquisition reflects our success in advancing supplement solutions in Canada and the U.S. The combination of these two entities is poised to redefine the gummy supplement market.
A vision for growth and innovation. We are deeply impressed by Island Abbey’s track record, particularly under Dean’s leadership.
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 supplements industry.
Says Hagai Stadler, President of TopGum.
TopGum will pay USD20 million plus a deferred earn-out payment based on Island Abbey’s results in 2025. The transaction is expected to close in the first quarter of 2025, pending all required regulatory and third-party business approvals.
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