Israeli gummy supplement manufacturer will invest in North America and Europe next year
Private equity firm AP Partners Fund has invested in TopGum Industries, a functional gummy supplement manufacturer for nutraceutical marketers.
TopGum entered the Israeli confectionery market in 2004 and last year launched its functional gummy supplements portfolio, following investment in R&D and a sizeable new facility.
The two Tel Aviv companies said the new investment will be used to accelerate TopGum’s growth and expand its production capacity, R&D and marketing to overseas markets next year.
Chief executive Amichai Bar-Nir said: “The new investment allows us to increase capacity significantly and expand our activity to the US and the European markets. As part of the Israeli FoodTech ecosystem, TopGum is working diligently to innovate this popular delivery form, supporting our customers assiduously to stand out in the crowd with differentiated, high-quality products.”
AP Partners Fund states that it focuses on product-oriented enterprises with high growth prospects. The company’s founding partner Hagai Stadler has become chairman of TopGum. He was formerly chief executive of Algatech, which produces high-value active ingredients from microalgae.
Stadler said: “As a major partner at TopGum, we will take a part in its journey to become one of the leading gummy-based supplement producers. We were impressed by the company’s vision to provide clean-label, innovative gummy supplements with superior flavour, which will advance gummy formulations to the next level. AP Partners will work closely with TopGum management to unlock the vast potential of its innovative product line and stimulate growth.”
All TopGum products are nut-free, lactose-free, gluten-free, and kosher- and halal-certified.
Date published: 9 November 2020