IRVING, TEXAS — Darling Ingredients entered an agreement May 2 to acquire FASA Group, a rendering company based in Brazil, for about R$2.8 billion ($560 million) in cash.
FASA is one of Brazil’s largest independent renders, processing more than 1.3 million tons yearly and operating 14 rendering plants. The company employees about 2,400 people and is currently constructing two additional plants.
"Brazil is a leader in global agricultural commodities growth and is expected to take on a bigger role in world's meat production, making it a premier location for rendering growth," said Randall Stuewe, chairman and chief executive officer of Darling Ingredients. "FASA will also supplement Darling Ingredient's global supply of waste fats, making it a leader in the supply of low carbon waste fats and oils in North and South America to be used in the production of renewable diesel."
Darling’s acquisition of FASA follows the company’s recent acquisition of Valley Proteins, which it completed earlier this month.
Read more about corporate strategy, financial performance, mergers and acquisitions on our Business page.