Prinova, a leading food ingredients distributor and manufacturer, has announced Richard McEvoy as its new President and CEO effective April 1, 2025. McEvoy will succeed long-time executive Don Thorp, who is retiring after an impressive 42-year career with the company. The leadership transition began on March 10, 2025, when McEvoy joined Prinova for an onboarding and handover period prior to officially taking the helm. This strategic appointment comes at a critical time for the company as it navigates ongoing industry challenges while pursuing growth opportunities in key market segments.
A Seamless Leadership Transition at Prinova
The appointment of Richard McEvoy marks a significant moment in Prinova’s corporate history. After joining the company on March 10, 2025, McEvoy has been working closely with retiring CEO Don Thorp to ensure a smooth leadership transition. This carefully planned handover period demonstrates Prinova’s commitment to organizational stability during executive changes.
Don Thorp’s retirement closes an extraordinary chapter at Prinova, having dedicated over four decades to building the company into a food ingredients powerhouse. His tenure saw the company grow from modest beginnings to becoming a global player with substantial market influence. The incoming CEO has big shoes to fill, but McEvoy’s impressive background suggests he’s well-equipped for the challenge.
Rob Elias, Prinova’s CFO, expressed confidence in the new appointment: “We are thrilled to welcome Richard to Prinova. His strategic mindset and operational expertise will help us drive innovation across the company’s product and service portfolio.” This planned succession aims to maintain business continuity while introducing fresh perspectives to address evolving market demands.
McEvoy’s Impressive Industry Background
Richard McEvoy brings valuable experience to his new role at Prinova, having previously served as CEO of Voyant Beauty. His career showcases a proven track record in executive leadership across multiple relevant industries. Before Voyant Beauty, McEvoy held significant positions at several major corporations including Unilever, JohnsonDiversey, and Vantage Specialty Chemicals.
This diverse background has equipped McEvoy with a comprehensive understanding of product development, manufacturing operations, and strategic growth initiatives. His experience at Unilever, a global consumer goods leader, provided insights into sustainable product development practices that could benefit Prinova’s future direction. Additionally, his time at specialty chemicals companies has given him familiarity with ingredient formulation and technical applications.
McEvoy appears enthusiastic about his new position, stating: “I’m excited to join Prinova at such a pivotal time. The company has built a strong reputation for its commitment to excellence and innovation. I look forward to working with the talented team at Prinova and Nagase to build upon this success, seize new opportunities, and deliver exceptional value for our customers and stakeholders.”
Prinova’s Position in the Food Ingredients Market
Founded in 1978 in Illinois, Prinova has grown into a significant player in the food ingredients industry. Now a wholly owned subsidiary of NAGASE Group, the company reported annual revenue of $302 million in 2024 and employs approximately 350 people. Prinova’s headquarters are located at 300 Park Blvd Suite 500, Itasca, Illinois 60143, US.
The company’s operations span multiple segments of the food ingredients sector. As a distributor, Prinova supplies essential food components including vitamins, amino acids, sweeteners, and caffeine to manufacturers worldwide. Their distribution network enables them to serve diverse clients ranging from startups to global brands.
Beyond distribution, Prinova has established itself as a manufacturer of premixes, flavors, and powder products. The company has invested in over 750,000 square feet of manufacturing space in the US dedicated to sports and lifestyle nutrition contract manufacturing. This substantial manufacturing footprint allows Prinova to offer comprehensive solutions from ingredient concepts to finished products.
Core Business Focus and Market Segments
Prinova’s business model centers around several key services that position the company as both a supplier and production partner. Their core offerings include ingredient sales and distribution, providing food manufacturers with quality components for their formulations. This foundation is complemented by value-added services that differentiate Prinova in the marketplace.
The company has developed specialized expertise in premix manufacturing, creating custom blends of vitamins, minerals, and other nutritional ingredients. Additionally, Prinova offers flavor manufacturing capabilities, helping clients develop distinctive taste profiles for their products. Their technical abilities extend to powder product development and contract manufacturing, providing end-to-end solutions for brands without in-house production facilities.
Three key markets represent particular strengths for Prinova: beverages, sports nutrition, and gummies. The sports nutrition segment has seen significant growth, driven by consumer interest in functional food products that support active lifestyles. Similarly, the gummy market has expanded beyond children’s vitamins to encompass adult nutrition supplements, presenting lucrative opportunities for ingredient suppliers and manufacturers like Prinova.
Navigating Industry Challenges and Opportunities
McEvoy takes the helm at Prinova during a period of significant challenges in the food industry. Supply chain disruptions continue to affect ingredient availability and pricing, creating complications for manufacturers and distributors alike. Product shortages have forced companies to develop contingency plans and alternative sourcing strategies to maintain production continuity.
Inflation represents another major hurdle, as rising costs push companies to optimize operations and reconsider pricing strategies. These economic pressures have intensified competition across the industry, making strategic leadership particularly valuable. Despite these challenges, Prinova’s established market position and the resources of parent company NAGASE Group provide advantages in weathering economic uncertainties.
The global gummy market illustrates the growth potential within Prinova’s target segments. Valued at $16.28 billion in 2020, this market is projected to grow at a compound annual growth rate (CAGR) of 12.6% from 2020 to 2028. This expansion creates significant opportunities for companies with expertise in formulation and manufacturing capabilities in this specialized product category.
Sustainability and Future Direction
Under McEvoy’s leadership, Prinova appears poised to expand its commitment to sustainability. The company recently published its Responsibility Report, detailing various environmental and social initiatives. These efforts align with growing consumer demand for responsibly sourced and produced food ingredients, presenting both a moral imperative and a business opportunity for Prinova.
The report, available on the company’s website, outlines specific sustainability goals and progress metrics. As food manufacturers face increasing pressure to reduce environmental impacts throughout their supply chains, Prinova’s focus on sustainable practices could become a competitive advantage. McEvoy’s previous experience at companies like Unilever, known for sustainability leadership, may further strengthen this direction.
Looking ahead, the company is likely to face both challenges and opportunities in a rapidly evolving industry landscape. Emerging food technology developments and changing consumer preferences will require adaptive strategies and innovative approaches. With McEvoy’s leadership and Prinova’s established market position, the company appears well-positioned to navigate these dynamics while pursuing continued growth in its key market segments.
As Prinova enters this new leadership era, the food ingredients industry will be watching closely to see how McEvoy’s vision shapes the company’s trajectory. His blend of corporate experience across relevant sectors suggests potential for continued innovation in product development and manufacturing capabilities. The planned transition period with outgoing CEO Don Thorp should help preserve institutional knowledge while allowing for fresh perspectives on future growth opportunities.
For food manufacturers and brands relying on quality ingredients and production partners, Prinova’s leadership change represents a significant development in the industry ecosystem. McEvoy’s leadership approach and strategic priorities may influence product development timelines, manufacturing partnerships, and ingredient availability across multiple food and beverage categories.