Dr. Praeger’s has made a new appointment. The plant-based food company named Andy Reichgut as its new CEO, as longtime CEO Larry Praeger steps into a special advisor role.
CPG industry veteran Reichgut joins Dr. Praeger's Sensible Foods from his most recent role as general manager for vegan cheese company Violife. He also served as EVP at New Classic Cooking, where he steered the Veggies Made Great brand through a repositioning and significant subsequent growth. His background includes additional work leading brands at Pinnacle Foods, Mars and Reckitt Benckiser. Reichgut earned a MBA degree from University of Chicago and a BS degree from Syracuse University.
Meanwhile, Praeger will remain an active board member at the company founded by his father, Dr. Peter Praeger, and fellow cardiac surgeon Dr. Eric Somberg. The Praeger and Somberg families will retain their ownership stake in Dr. Praeger’s Sensible Foods, which is based in Elmwood Park, N.J.
“I’m excited to welcome Andy to Dr. Praeger’s. His vision, coupled with a phenomenal team who care so deeply for our brand, will continue to bring delicious and healthy plant-based food for generations to come,” said Praeger. “When my father put his name on a veggie burger 26 years ago, he could not have predicted the plant-based revolution that was to come. I am so proud, as I know he would be, of the part Dr. Praeger’s has played in bringing delicious, nutrient-dense food to homes all over the country. Dr. Praeger’s has truly been able to meet the moment, and I’m confident it will continue to do so in this exciting next chapter.”
Added company chairman Jeffrey Ansell: "Andy is a smart, thoughtful, innovative and resourceful business leader with a deep appreciation for strengthening organizational capability, and a strong track record of building brands and businesses. I’d also like to sincerely thank Larry for his incredible vision and passion for the brand, which experienced transformative growth under his leadership. We look forward to his continued contributions as a Special Advisor and active board member."
Ansell is also strategic executive advisor for Vestar Capital Partners. Dr. Praeger’s is a portfolio company of that private equity firm.