Amichai Bar Nir (top photo too)
Top Gum signed an agreement with an American customer for the supply of products in the amount of 27 million dollars. The agreement is with an existing customer with whom the previous agreement is coming to an end. As part of the agreement, Top Gam will supply products to the extent of at least 12.5 million dollars in 2023 and another 15 million dollars at least in 2024.
The client has his own developments for the forms he developed and are protected by intellectual property. Top Gum will produce for the customer for his own brand using the formulas he developed and will not make any other use of them, that is, you will not produce them for other customers and this is self-evident.
Top Gum produces nutritional supplements that are served to the customer through gummy candies. The company’s production makes it possible to give the nutritional supplements in a child-friendly way, but not only that. Amichai Bar-Nir, CEO of Top Gam: “Top Gam is renewing a supply agreement with an essential customer, and we thank you for the expression of trust during this important step. There is no doubt that this agreement, and other agreements with leading companies in the world, constitute a significant infrastructure for increasing the company’s production and sales volumes.
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“In addition, these agreements will support the rapid growth of the company in the coming years, for which we are in the advanced processes of building a new factory in Sderot, at a strict regulatory level that is also suitable for pharmaceutical products, and which should triple the existing production capacities. Currently, the company is in additional processes with various companies in the field of supplements Food and Pharma, including Tier 1 companies, and we estimate that some of these processes will mature into supply agreements.”
Last August, Top Gam reported its financial results for the second quarter and the first half of 2022. The company recorded an increase of about 112% in the net profit in the half, which amounted to about $2.6 million, compared to about $1.2 million in the corresponding period last year. The net profit in the second quarter increased by about 138% to about 1.4 million dollars, compared to about 597 thousand dollars in the corresponding quarter last year.
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