Darling Ingredients Inc. (DAR) — a company that develops and produces natural ingredients from collected and repurposed waste streams from the agri-food industry — recently announced in a news release that it entered into a definitive agreement to acquire Valley Proteins, Inc. in an all-cash deal.
As of 09:44 am EST today, DAR stock increased by 2.51%.
Valley Proteins Acquisition Deal
Darling Ingredients will buy all of Valley Proteins' shares for roughly $1.1 billion in cash. Valley Proteins currently runs “18 major rendering and used cooking oil facilities throughout the southern, southeast and mid-Atlantic regions of the U.S.” and employs a workforce of 1,900. The company also operates a fleet of 550 vehicles.
CEO Comments
“In the evolving world of ESG [environmental, social and governance standards] and global decarbonization, Valley Proteins will supplement Darling's global supply of waste fats and greases,” Darling Ingredients CEO Randall C. Stuewe explained. “The new supply will now provide Darling with additional low carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel.”
DAR has an Overall Score of 44. Find out what this means to you and get the rest of the rankings on DAR!
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 animal by-product streams into ingredients, including gelatin, fats, proteins, pet food ingredients, fertilizers, and other specialty products. Also, the company recovers and converts used cooking oil and bakery remnants into feed and fuel ingredients. Darling has three primary business segments: feed ingredients (the majority of revenue), food ingredients, and fuel ingredients. It provides grease trap services for food businesses and sells various equipment for collecting and delivering cooking oil. The company derives the majority of its revenue from customers in North America.
