Darling Ingredients (DAR) buys Valley protein for roughly $ 1.1 billion
Darling Ingredients Inc. (DAR) – a company that develops and produces natural ingredients from collected and reused waste streams from the food industry – recently announced in a Press release that it has entered into a definitive agreement to acquire Valley Proteins, Inc. in an all-cash transaction.
As of 9:44 am EST today, DAR stock was up 2.51%.
Valley Proteins Acquisition Agreement
Darling Ingredients will buy all of the shares of Valley Proteins for approximately $ 1.1 billion in cash. Valley Proteins currently operates “18 large rendering and used cooking oil facilities in the southern, southeastern and mid-Atlantic regions of the United States” and employs 1,900 people. The company also operates a fleet of 550 vehicles.
âIn the changing world of ESG [environmental, social and governance standards] and global decarbonization, Valley Proteins will complement Darling’s global supply of fat and residual fat, âsaid Darling Ingredients CEO Randall C. Stuewe. “The new offering will now provide Darling with additional low-carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel.”
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Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel and fertilizer industries. It collects and transforms all aspects of the animal by-product streams into ingredients, including gelatin, fats, proteins, pet food ingredients, fertilizers, and other specialty products. In addition, the company recovers and converts used cooking oil and bakery leftovers into feed and fuel ingredients. Darling has three main lines of business: feed ingredients (the majority of revenue), feed ingredients and fuel ingredients. It provides degreasing services for food companies and sells various cooking oil collection and delivery equipment. The company derives the majority of its revenues from customers in North America.
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