The acquisition serves as a strategic base for further expanding NAGASE's food business to the United States and Europe. NAGASE's mid-term management strategy focuses on reforming its profit structure with a view to expand sales and market reach at global level in the lifestyle and healthcare space. The company identifies Prinova as being a leading distributor of food ingredients and provider of integrated and customised solutions for global food, beverage and wellness brands.
By combining Prinova's vertically integrated capabilities of ingredient procurement, processing and contract manufacturing with NAGASE's strong R&D expertise, the company hopes to expand its market presence and added value to consumers in North America, Europe and Asia.
Although Prinova will be owned by NAGASE, its brand and services will remain in line with its current offerings, with its existing global leadership team also remaining in place. In a statement, Prinova USA President Don Thorp said that NAGASE has a tradition of helping companies develop the organisational infrastructure needed to expand operations whilst still allowing a company the freedom to run independently.