The Top Gum Company reported this morning (Sunday) to the Stock Exchange that it had signed a strategic product development agreement for an international corporation valued at over 150 billion dollars that will soon produce and market its products in about 200 countries around the world.
The name of the corporation has not been published, apparently due to the client’s desire to maintain discretion. In accordance with the agreement, which was signed for a period of 5 years, the company will develop nutritional supplements for the customer in the form of providing gummy candies, in accordance with his requirements, which are expected to be initially distributed throughout the European continent.
The parties committed to exclusivity for two years, during which the company committed not to sell to a third party the products developed for that large customer, the international corporation, for which it committed not to develop or purchase from another company the products that will be developed for it. Top Gap anticipates the beginning of orders from the customer as early as the second quarter of 2023, and according to it, the customer could be a substantial customer in the coming years for the company.
Top Gum, whose existing production plant is located in the city of Sderot, is co-owned by the founder and president of the company Chai Hayon, Roy Lusternik together with the AP Partners fund which invested in the company in 2020 in a co-investment in the company together with Discount Capital and Arkin Investments. The AP Partners fund is an active private equity fund established in 2018 and focused on small and medium-sized companies with high growth potential in the international markets. The CEO of Top-Gam is Amichai Bar-Nir, and the active chairman of the company is Hagai Stadler, a founding partner in the AP Partners fund. The company employs about 150 people.
“The agreement is an expression of confidence in Top Gam’s activities and its management from one of the largest and most well-known corporations in the world,” said Amihai Bar-Nir, the company’s CEO. the company’s production system. We are proud to add this agreement to the series of other strategic agreements we have signed with leading international companies. These agreements are a leap forward for the company, in terms of scope, number of markets (global distribution), and long-term commitment. There is no doubt that these agreements, and other agreements similar in essence, with the world’s leading companies that are in advanced processes, constitute a significant infrastructure for increasing the company’s production and sales volumes in its current plant and for its new plant, which is expected to start production in the second half of 2023.”