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Benzinga
Benzinga
Business
Shivani Kumaresan

Darling Ingredients To Acquire Valley Proteins For ~$1.1B Cash

  • Darling Ingredients Inc (NYSE:DAR) has entered into a definitive agreement to acquire all of the shares of Valley Proteins Inc for about $1.1 billion in cash. 
  • Valley Proteins operates 18 rendering and used cooking oil facilities, has 1,900 employees, and operates a fleet of 550 vehicles.
  • The company expects the acquisition to provide additional low-carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel.
  • Darling Ingredients anticipates the acquisition to be accretive post-integration.
  • "In the evolving world of ESG and global decarbonization, Valley Proteins will supplement Darling's global supply of waste fats and greases," said Chairman and CEO Randall C. Stuewe.
  • As of October 2, 2021, Darling Ingredients had $67.4 million in cash and cash equivalents and $912.6 million available under its committed revolving credit agreement, with total debt outstanding at $1.38 billion.
  • Price Action: DAR shares closed higher by 0.27% at $66.52 on Tuesday.
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