The diverse portfolio of 187-year-old Nagase includes everything from resins to functional polymers to pharmaceutical ingredients.
The acquisition of Prinova, which has 15 distribution centers around the world, is part of Nagase’s quest of expanding its footprint in the food space.
Prinova’s portfolio and expertise will enable Nagase to expand its food and nutrition ingredients reach in North America, Europe, and Asia, according to Kenji Asakura, president and CEO of Nagase Group.
“This acquisition marks a significant milestone in our continued effort to expand Nagase Group’s global footprint in a high value-added business,” he said in a press release.
Financial details of the transaction were not disclosed. Prinova’s current worldwide leadership team will remain in place, and the change would not affect the customer service experience of current or new Prinova customers.
“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.”