Darling Ingredients Inc. (NYSE: DAR) has agreed to acquire all shares of Valley Proteins, Inc. for $1 billion in cash.
Valley Proteins operates 18 major rendering and used cooking oil facilities through the southern, southeast and mid-Atlantic regions of the United States. The firm employs 1,900 people and operates a fleet of 550 vehicles.
Darling Ingredients is a producer of organic ingredients and generates an array of sustainable protein and fat products. The firm repurposes waste streams from the agri-food industry into specialty ingredients including hydrolyzed collagen, edible and feed-grade fats, animal proteins and meals and more.
“We are pleased to add Valley Proteins to our global ingredient family and we expect this acquisition to be accretive post integration,” said Randall Stuewe, chairman and CEO of Darling Ingredients. “In the evolving world of ESG and global decarbonization, Valley Proteins will supplement Darling’s global supply of waste fats and greases. The new supply will now provide Darling with additional low carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel.”