US Darling Ingredients to buy Brazilian Fasa Group

US company Darling Ingredients Inc (NYSE:DAR) announced on Thursday a definitive agreement to acquire Brazilian independent rendering firm Fasa Group for about BRL 2.8 billion (USD 567m/EUR 536m) in cash.

The price is subject to post-closing adjustments and a contingent payment based on future earnings growth.

The transaction is expected to close by the end of 2022, subject to customary conditions.

Darling Ingredients is turning food waste into sustainable products. The company repurposes nearly 10% of the world's meat industry waste streams into products, such as green energy, renewable diesel, collagen, fertiliser, animal proteins and meals and pet food ingredients.

The acquisition will supplement the US company’s global supply of waste fats to be used in the production of renewable diesel.

Fasa Group processes more than 1.3 million metric tons annually through 14 rendering plants. The Brazilian firm has about 2,400 employees.

(BRL 1 = USD 0.202/EUR 0.192)

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