IRVING, TEXAS – Darling Ingredients Inc. has announced it will acquire Winchester, Va.-based Valley Proteins Inc. acquiring its outstanding shares for approximately $1.1 billion in cash. Valley’s facilities include 18 major rendering and used cooking oil plants, and the company employs 1,900 employees and operates a fleet of 550 vehicles.
Darling Ingredients produces organic ingredients, generates sustainable protein and fat products, and renewable clean energy. The company collects waste from the agri-food industry on five continents and repurposes it into specialty ingredients, such as hydrolyzed collagen, edible and feed-grade fats, animal proteins and meals, plasma, pet food ingredients, fuel feedstocks, and green bioenergy.
“We are pleased to add Valley Proteins to our global ingredient family and we expect this acquisition to be accretive post integration,” said Randall Stuewe, chairman and chief executive officer of Darling Ingredients. “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. 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.”
The closing of the transaction is subject to customary closing conditions.