IRVING, Texas, Oct. 18, 2022 /PRNewswire/ -- Darling Ingredients
Inc. (NYSE: DAR) the world's leading company turning food waste
into sustainable products and producer of renewable energy, today
announced it has entered into a definitive agreement to acquire all
of the shares of Gelnex, a leading global producer of collagen
products (including gelatin and collagen peptides), for
approximately $1.2 billion USD in
cash. The transaction is subject to customary regulatory approvals
and is anticipated to close in first quarter 2023.
Headquartered in Brazil with
five facilities in South America
and one in the United States,
Gelnex has the capacity to produce 46,000 metric tons of collagen
products annually, which it exports to more than 60 countries
around the world, and employs about 1,200 employees.
"Driven by strong growth in demand for collagen products in the
global health and nutrition market, we anticipate the collagen
peptides market to double in the next five years," said
Randall C. Stuewe, Chairman and
Chief Executive Officer. "Gelnex is a well-run business and will be
immediately accretive. This acquisition will allow Darling to
continue to grow its presence in the health and nutrition market
and increases our production capacity for grass-fed bovine
collagen in South America to help
meet the future demand of our collagen customers worldwide."
With 11 state-of-the-art facilities on four continents around
the world, Darling Ingredients' health brand Rousselot is a leading
manufacturer and worldwide supplier of hundreds of collagen
products made from bovine, porcine and fish sources.
"Collagen is the most abundant protein naturally found in the
body, and it plays an increasing role in the health and nutrition
market by consumers seeking benefits to their hair, nails, skin,
joints, bones and muscles," Stuewe said. "Our versatile and
high-quality collagen products can be used in a broad range of
applications, including powder blends, capsules, tablets,
nutritional bars, drinks, dairy, confectionery and more."
Morgan Stanley & Co. LLC acted as Darling Ingredients'
exclusive financial advisor in connection with the transaction.
Darling Ingredients will host a teleconference and webcast for
investors at 11:00 a.m., ET, today,
October 18, 2022. Due to historically
high call volume, the company is offering participants the
opportunity to register in advance for the conference through the
following link: https://dpregister.com/sreg/10172598/f4e5203cce
Participants who do not wish to pre-register for the call may
dial in using 844-868-8847 (U.S. callers) or 412-317-6593
(international callers) and ask for the "Darling Ingredients" call.
A replay will be available two hours after completion of the call
through October 25, 2022. To access the replay, please dial
877-344-7529 (U.S. callers), 855-669-9658 (Canada) and 412-317-0088 (International
callers) and reference passcode 2178877. The live webcast and
archived replay also can be accessed
at http://ir.darlingii.com.
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 more
than 250 plants in 17 countries and repurposes approximately 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.
Darling Ingredients
Contacts
|
Investors:
|
Suann
Guthrie
|
|
VP, Investor Relations,
Sustainability & Communications
|
|
(469) 214-8202;
suann.guthrie@darlingii.com
|
|
|
Media:
|
Jillian
Fleming
|
|
Director, Global
Communications
|
|
(972) 5451-7115;
jillian.fleming@darlingii.com
|
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