Hagai Stedler (Photo by Dana Friedlander)
Top Gum, which operates in the market for the supply of gummy candies, has signed a set of strategic agreements for a period of one to three years, which are automatically renewed, with a huge international corporation (Tier 1), with a market value of over $ 100 billion. The corporation with which Top Gam signed the deal manufactures and markets food products and nutritional supplements under thousands of brands, in almost every country in the world.
In accordance with the agreement, the company will produce for the customer gummy candies based on the GUMMICEUTICAL formulation, combined with active ingredients and various agronomoleptic properties according to the corporation’s requirements, for sale by the customer as a first step in the US, Europe and other countries around the world. In accordance with the agreement, in addition to the products that Top Gam has already developed that will be marketed to the company, it will continue to develop new products, according to the customer’s requirement, that will be exclusive to it.
The customer has undertaken that the company will receive an exclusivity for a period of three years for the sale of products that will be developed for it and intended for sale in European countries and other regions of the world.
The set of agreements was signed with the customer headquarters in the US, which is responsible for distributing the customer’s products in this territory, and with the global customer headquarters in Europe, which is responsible for distributing the customer’s products in Europe and the rest of the world. The latter, even before the agreements were signed, for about NIS 10 million.
Pursuant to the agreement, the proprietary rights in the formulas provided by the Company will remain in its possession, while all proprietary rights in the Products will remain in the possession of the Customer.
The new agreement joins additional strategic agreements the company has signed in recent months to supply nutritional supplements in the form of gum candies. The company is also in advanced processes with other leading international corporations in order to reach agreements for the development and supply of nutritional supplements in the form of gum candies, with an emphasis on Gummiceuticals, which the company will develop.
Amichai Bar-Nir, CEO of the company, “This is a strategic set that includes 4 very significant agreements that constitute an expression of trust in the company in general, and in the company’s unique products and technologies that it has developed and continues to develop in particular. These agreements represent a significant leap forward for the company, in terms of volumes, number of markets (global distribution), and long-term commitment.
“There is no doubt that these agreements, and other similar agreements in nature, with the world’s leading companies in advanced processes, constitute a significant infrastructure for increasing the company’s production and sales volumes at its current plant and for its new plant, which is expected to begin production in the second half of 2023.”
Hagai Stedler, Chairman of the Company, “The agreement is a breakthrough for the company and the Israeli food tech market. The agreement comes after long months of hard work that combined aspects of quality, advanced R&D, international procurement and precise manufacturing and more, and is a certificate of honor for the company, its management and employees.
“The agreements are an anchor in the company’s accelerated growth plan, the implementation of which also includes a new plant designed to triple the company’s production line. This set of agreements joins four other strategic agreements we have signed since the beginning of 2021 with leading international companies. “Other international leaders from the world, who have premium brands in the field of pharma, nutritional supplements, in order to reach global supply agreements for nutritional supplements in the form of gum candies.”
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