Though it will be owned by Nagase, Prinova said its brand, mission, and core offerings will remain consistent. The acquisition enables Nagase, which already has a strong brand in Asia, to expand its footprint in North America and Europe, harnessing Prinova’s expertise to serve a broader market. For Prinova, this means a larger operational scale and the pursuit of new business opportunities around the world.
“Prinova is among the world’s largest distributors and providers of functional ingredients and integrated nutritional solutions to food, beverage, and wellness brands but we have always had a broader vision—to make a larger global impact by helping our customers grow their brands and improve their customers’ quality of life,” said Don Thorp, president of Prinova USA. “As we discussed a possible combination with Nagase, we quickly realized that its global infrastructure, desire to increase its footprint in the food and nutritional ingredients space, and above all else, its commitment to the highest standards of quality and safety, made this an ideal opportunity for our company to realize its vision. We are excited about the opportunities that this partnership will provide for our customers and dedicated employees.”
Following the transaction’s close, Prinova’s current worldwide leadership team will remain in place and, within Nagase’s infrastructure, will continue to oversee the strategic growth and overall quality of the Prinova brand.
“This acquisition marks a significant milestone in our continued effort to expand Nagase Group’s global footprint in a high value-added business,” said Kenji Asakura, president and CEO of Nagase Group. “The addition of Prinova’s expertise, unique positioning, and portfolio offering enables us to expand our food and nutrition ingredients value chain in North America, Europe and also in Asia.”
“In Nagase, we have found a parent company that shares many of our cultural characteristics and values, including a commitment to maintaining the highest standards of professionalism, integrity and sustainability,” Thorp said. “Nagase has a tradition of helping companies develop the organizational infrastructure needed to expand their operations while providing them the freedom to run independently. It also understands the value we place on independence and innovation and is enthusiastic about the business and culture we have built.”
The companies expect the transaction to close within 60 days.