Neste to acquire Walco Foods to strengthen its biobased diesel feedstock sourcing
Renewable diesel and sustainable aviation fuel (SAF) producer Neste Corp. has agreed to acquire 100 percent of Walco Foods, an Irish trader of animal fats.
The transaction is subject to the fulfillment of customary closing conditions and regulatory approval.
“This is another important step for Neste in the execution of our growth strategy,” said Matti Lehmus, President and CEO of Neste. “With this acquisition, we continue to build a global waste and residue raw material platform and add trading capabilities in Ireland.”
Together with the previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental and Agri Trading in the United States, Walco Foods will enhance Neste’s supply of global waste and residue raw materials.
Walco Foods was established in 1996 as a family-run business. The in-depth knowledge and market understanding developed over the years has helped Walco Foods become a leading animal fat and byproducts trading company in Ireland.
Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. This is possible thanks to its proprietary NEXBTL technology—a platform that allows the company to turn a wide variety of renewable waste and residues and oils into premium fuels and other products.
The company owns and operates biobased diesel production assets in Finland, the Netherlands, Singapore and California (a joint venture with Marathon Petroleum).