IRVING,
Texas, Aug. 1, 2022 /PRNewswire/ -- Darling
Ingredients Inc. (NYSE: DAR), the world's premier company
repurposing animal and food byproducts into specialty food and feed
ingredients and a leader in decarbonization solutions, today
announced it has completed the acquisition of Brazil's largest independent rendering
company, FASA Group.
The company first announced the acquisition in May 2022 for a purchase price of approximately
R$2.8 billion Brazilian Real in cash
($542.6 million USD at today's
exchange rate), plus or minus various closing adjustments and a
contingent payment based on future earnings growth. As part of the
transaction, Darling Ingredients has acquired 14 plants that
process more than 1.3 million metric tons annually, with an
additional two plants under construction.
"Brazil will play a big role in
feeding a growing world population, which makes it a premier
location to grow our specialty ingredients business," Randall C. Stuewe, Chairman and Chief Executive
Officer, Darling Ingredients. "FASA is a well-run business, will be
immediately accretive and further de-risks the supply chain by
providing an additional source of non-food based, low-carbon waste
fats to be used in the production of renewable diesel and
sustainable aviation fuel."
About Darling
Darling Ingredients Inc. (NYSE: DAR) is the largest publicly
traded company turning edible by-products and food waste into
sustainable products and a leading producer of renewable energy.
Recognized as a sustainability leader, the company operates 250
plants in 17 countries and repurposes nearly 15% of the world's
meat industry waste streams into value-added products, such as
green energy, renewable diesel, collagen, fertilizer, animal
proteins and meals and pet food ingredients. To learn more, visit
darlingii.com. Follow us on LinkedIn.
Contact:
Suann Guthrie
VP, Investor Relations, Sustainability & Communications
(469) 214-8202, Suann.guthrie@darlingii.com
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SOURCE Darling Ingredients Inc.