TopGum Industries acquires Island Abbey Nutritionals, which specializes in supplement gummies and lozenges. This acquisition expands TopGum’s manufacturing and technological capabilities and is expected to propel TopGum’s annual revenue run-rate beyond US$100 million.
Founded in 2004, Island Abbey operates a 65,000-sf facility in P.E.I. with advanced manufacturing technologies, including starchless depositing, centre-fill capabilities, and automated bottling and packaging lines.
“Island Abbey brings a unique combination of strategic customers, advanced technologies, and a professional, experienced team,” said Eyal Shohat, CEO of TopGum. “Together with TopGum’s longstanding expertise, this partnership opens new horizons for innovation and growth.”
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 place, led by CEO Dean Williams, who will be joining TopGum’s executive leadership team.
“I’m honoured to be part of this pivotal moment for Island Abbey,” said Williams. “This acquisition reflects our success in advancing supplement solutions across Canada and the U.S. The combination of these two entities is poised to redefine the gummy supplement market.”
Source: www.foodincanada.com