Irving-based Darling Ingredients Inc. (NYSE: DAR) announced on Monday it has completed the acquisition of Virginia-based Valley Proteins, one of the largest independent rendering companies in the United States, according to a news release.
Darling Ingredients, which turns food waste into sustainable products and uses it to produce renewable energy, first announced the acquisition in December for $1.1 billion (plus or minus various closing adjustments.)
As part of the transaction, Darling Ingredients also acquired 18 major rendering plants and used cooking oil facilities throughout the southern, southeast and mid-Atlantic regions of the U.S.
"We are excited to welcome Valley Proteins to the Darling Ingredients family," Randall C. Stuewe, chairman and CEO, said in the release. "Valley Proteins has built a successful rendering and used cooking oil business that immediately strengthens our base business and expands our ability to provide additional low carbon intensity feedstocks to fuel the growing demand for renewable diesel."
The company collects waste from restaurants, supermarkets, slaughterhouses and poultry processing facilities.
Darling also produces protein and fat products and renewable clean energy from collected animal and agri-food waste but has 10,000 employees and 200 operating facilities.
Though fuel and feed production make up most of Darling’s revenue, the company has taken several steps in recent years to emphasize its renewable energy position.
