Israel-based provider of gummy supplements TopGum Industries has acquired Island Abbey Nutritionals, a Canadian CDMO specializing in supplement gummies and lozenges.
Per the deal, TopGum will pay $20 million plus an earn out payment based on Island Abbey's 2025 results. The acquisition bolsters TopGum's strategic focus to deepen its foothold in the U.S. market. By integrating Island Abbey's advanced capabilities, TopGum will establish an integrated supply chain with production, bottling and warehousing capabilities across two continents. The combined expertise and expanded capacity will enable TopGum to meet increasing global demand for high-quality, differentiated gummy supplements.
Island Abbey operates a state-of-the-art 65,000-square-foot facility in Prince Edward Island, in which tens of millions of dollars were invested 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 FDA, NSF, GMP, SQF and Health Canada quality standards.
The transaction is expected to close in Q1 2025.