The acquisition will provide Darling with additional resources for its renewable fuels business, the company said.
Irving-based agri-food reprocessing firm Darling Ingredients has announced that it will acquire Valley Proteins for $1.1 billion.
Darling Ingredients will purchase all of Valley Proteins’ shares in cash, the company said in a release. Virginia-based Valley Proteins has a 70-year history of providing services to the meat processing and restaurant industries. It employs 1,900 workers and operates a fleet of 550 vehicles, and it’s a leading exporter of poultry-based fats and proteins used in biofuels.
Darling Ingredients collects and repurposes animal-based and agricultural ingredients, like slaughterhouse leftovers and used restaurant cooking oil, into materials that are sold back into the market. It creates products including collagen, edible and feed-grade fats, animal proteins and meals, plasma, pet food ingredients, fuel feedstocks and green bioenergy.
“In the evolving world of ESG and global decarbonization, Valley Proteins will supplement Darling’s global supply of waste fats and greases,” Darling Ingredients CEO Randall C. Stuewe said in a statement. “The new supply will now provide Darling with additional low-carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel.”In recent years, Darling CEO Stuewefrom one focused on animal feed and food ingredients to one that produces bio-friendly hydrocarbon fuel.
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