Darling Ingredients completes acquisition of Brazilian renderer FASA Group
Darling Ingredients Inc. announced Aug. 1 it has completed the acquisition of Brazil’s largest independent rendering company, FASA Group.
The company first announced the acquisition in May for a purchase price of approximately 2.8 billion Brazilian reals in cash (USD$542.6 million at today’s exchange rate), plus or minus various closing adjustments and a contingent payment based on future earnings growth.
As part of the transaction, Darling Ingredients has acquired 14 plants that process more than 1.3 million metric tons annually, with an additional two plants under construction.
“Brazil will play a big role in feeding a growing world population, which makes it a premier location to grow our specialty-ingredients business,” said Randall C. Stuewe, chairman and CEO of Darling Ingredients. “FASA is a well-run business, will be immediately accretive and further de-risks the supply chain by providing an additional source of nonfood-based, low-carbon waste fats to be used in the production of renewable diesel and sustainable aviation fuel.”
Darling is the largest publicly traded company turning edible byproducts and food waste into sustainable products and a leading producer of renewable energy.
Recognized as a sustainability leader, the company operates 250 plants in 17 countries and repurposes nearly 15 percent 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.