IRVING, TEXAS — Darling Ingredients announced on May 2 that is has completed its acquisition of Valley Proteins, Inc. The independent renderer was acquired by Darling Ingredients for $1.1 billion in cash.
The company announced Dec. 28 it had entered into an agreement with Valley Proteins to acquire all shares of the company.
"We are excited to welcome Valley Proteins to the Darling Ingredients family," said Randall C. Stuewe, chairman and chief executive officer, Darling Ingredients. "Valley Proteins has built a successful rendering and used cooking oil business that immediately strengthens our base business and expands our ability to provide additional low carbon intensity feedstocks to fuel the growing demand for renewable diesel."
As part of the acquisition, Darling acquired Valley Proteins’ 18 rendering plants and used cooking oil facilities spanning the South, Southeast and Mid-Atlantic areas of the United States. Valley Proteins employs 1,900 people and operates a fleet of 550 vehicles.
"We are pleased to add Valley Proteins to our global ingredient family and we expect this acquisition to be accretive post integration,” Stuewe said. “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.
“Valley Proteins has a rich 70 plus year history of providing essential services to the meat processing industry and restaurant locations and our teams will work diligently to complete this acquisition in a timely manner,” Stuewe added.
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