Darling Ingredients Inc. (NYSE: DAR), an Irving, TX-based company turning food waste into sustainable products and producer of renewable energy, is to purchase Fasa Group, a Brazilian independent rendering company.
The deal amounted to approximately R$2.8 billion Brazilian Real in cash ($560m USD at today’s exchange rate), subject to post-closing adjustments and a contingent payment based on future earnings growth. The transaction is subject to customary closing conditions, and is expected to close by the end of 2022.
Fasa Group processes more than 1.3 million metric tons annually through 14 rendering plants with an additional two plants under construction, and has approximately 2,400 employees.
The company will 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.
Led by Randall C. Stuewe, Chairman and Chief Executive Officer, Darling Ingredients is a large publicly traded company turning food waste into sustainable products and a producer of renewable energy. The company operates 250 plants in 17 countries and repurposes nearly 10% of the world’s meat industry waste streams into value-added products, such as green energy, renewable diesel, collagen, fertilizer, animal proteins and meals and pet food ingredients.