Darling Ingredients completes acquisition of Valley Proteins
Darling Ingredients Inc. announced May 2 it has completed the acquisition of Valley Proteins, one of the largest independent rendering companies in the U.S.
The company first announced the acquisition in December for a purchase price of $1.1 billion, plus or minus various closing adjustments.
As part of the transaction, Darling Ingredients has acquired 18 major rendering plants and used cooking oil facilities throughout the South, Southeast, and Mid-Atlantic regions of the U.S.
“We are excited to welcome Valley Proteins to the Darling Ingredients family,” said Randall C. Stuewe, chairman and CEO of Darling Ingredients. “Valley Proteins has built a successful rendering and used cooking oil business that immediately strengthens our base business and expands our ability to provide additional low carbon intensity feedstocks to fuel the growing demand for renewable diesel.”
The Diamond Green Diesel joint venture between Darling Ingredients and Valero Energy Corp. can produce 690 million gallons of renewable diesel a year in Norco, Louisiana. Once its Port Arthur, Texas, project is complete next year, this will add another 470 million gallons of annual production capacity to its renewable diesel portfolio.