Nutritional ingredients supplier Prinova Group LLC (Carol Stream, IL) is set to be acquired by Japan-based chemicals firm Nagase Group. According to the companies, the deal “will create a unique food ingredient manufacturing and distribution offering that marries Prinova’s renowned expertise with Nagase’s truly global footprint.”
The companies say Prinova’s brand, mission, and core offerings will remain consistent with what they are now. Don Thorp, president of Prinova USA, said in a press release: “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. 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.”
The transaction is expected to close in the next 60 days.