Darling Ingredients Inc., Irving, Texas, a producer of organic ingredients, including fertilizers, on Dec. 28 announced that it entered into a definitive agreement to acquire all of the shares of Valley Proteins Inc., Winchester, Va., for approximately $1.1 billion in cash.
Founded in 1949, Valley Proteins operates 18 rendering and used cooking oil facilities throughout the southern, southeast, and mid-Atlantic regions of the U.S. It employs 1,900 employees 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. 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,” said Randall C. Stuewe, Darling Chairman and CEO. “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.”