IRVING, TEXAS — Darling Ingredients Inc. announced Dec. 28 it has entered into an agreement with Valley Proteins, Inc. to acquire all shares of the company for roughly $1.1 billion. The amount will be paid in cash.
Valley Proteins runs 18 rendering and used cooking oil plants across the United States. The company 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,” said Randall C. Stuewe, chairman and chief executive officer of Darling Ingredients. “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.
The agreement is subject to closing conditions.
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