Darling Ingredients To Acquire Valley Proteins For ~$1.1B Cash

Darling Ingredients Inc DAR has entered into a definitive agreement to acquire all of the shares of Valley Proteins Inc for about $1.1 billion in cash.
Valley Proteins operates 18 rendering and used cooking oil facilities, has 1,900 employees, and operates a fleet of 550 vehicles.
The company expects the acquisition to provide additional low-carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel.
Darling Ingredients anticipates the acquisition to be accretive post-integration.
"In the evolving world of ESG and global decarbonization, Valley Proteins will supplement Darling's global supply of waste fats and greases," said Chairman and CEO Randall C. Stuewe.
As of October 2, 2021, Darling Ingredients had $67.4 million in cash and cash equivalents and $912.6 million available under its committed revolving credit agreement, with total debt outstanding at $1.38 billion.
Price Action: DAR shares closed higher by 0.27% at $66.52 on Tuesday.