IRVING, TEXAS- Darling Ingredients, a publicly traded company that creates sustainable products and renewable energy, agreed to purchase FASA Group, announced that it acquired a Brazilian independent rendering company for $560 million.
FASA processes more than 1.3 tonnes annually through 14 rendering plants. The company also has two additional plants under construction. FASA has approximately 2,400 employees.
“Brazil is a leader in global agricultural commodities growth and is expected to take on a bigger role in world's meat production, making it a premier location for rendering growth,” said Randall C. Stuewe, chairman and chief executive officer of Darling Ingredients. “FASA will also supplement Darling Ingredient's global supply of waste fats, making it a leader in the supply of low carbon waste fats and oils in North and South America to be used in the production of renewable diesel.”
The transaction is subject to customary closing conditions and is expected to be finalized by the end of 2022.
Earlier this week, Darling completed the acquisition of Winchester, Va.-based Valley Proteins for $1.1 billion.