CAROL STREAM, Ill.– Prinova Group LLC, one of the world’s largest manufacturers and distributors of premium nutritional ingredients for the global food and wellness industries, today announced that it has agreed to be acquired by Nagase & Co. Ltd. The combination with Nagase Group, a diversified Japanese chemical trading firm founded in 1832, will create a unique food ingredient manufacturing and distribution offering that marries Prinova’s renowned expertise with Nagase’s truly global footprint.

Though Prinova will be owned by Nagase, 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 realised 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 realise its vision. We are excited about the opportunities that this partnershipwill 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 organisational 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.

About Nagase Group

Nagase Group is aleading chemical trading firm in Japanfounded in 1832. Nagase Grouphas continued to expand its business by enhancing value-added functions/services such as manufacturing, processing and R&D capabilities. In 2012, Hayashibara, a well-known Japanese company with strong R&D expertise in biotechnology actively developing and manufacturing functional food ingredients joined Nagase Group. Today, Nagase Groupowns more than 100 group companies around the globe, manufacturing and distributing various products such as resins, functional polymers, plastic products, electronic materials, functional food and pharmaceutical ingredients and intermediates.

About Prinova

Since 1978, Prinova has been a leader in providing high-quality ingredients, flavours and value-added nutrient fortification products to the global food, feed and wellness industries. Prinova operates 6 plants and holds strategic stocks in 15 distribution centres around the world to ensure continuity of supply and is the leading global supplier of Vitamin C, B and food grade Amino Acids. The company also has a team of application and technical specialists within their R&D and Quality Laboratory to help customers develop, improve, and enhance the taste and function of their products. Prinova’s facilities are BRC certified. The company’s main corporate office is in Carol Stream, Illinois with the European head office in the United Kingdom and a regional office in Canada. Additional regional offices are located throughout the United States as well as global sales associates in Mexico, Spain, Germany, Belgium, France, Australia, Turkey and China.