Irving-based agri-food reprocessing firm Darling Ingredients announced it would acquire Valley Proteins in a deal worth $1.1 billion. They will purchase all of Valley Proteins’ shares in a cash deal, according to the announcement.
Valley Proteins, a Virginia-based company, has a 70-year history of rendering services to the meat processing and restaurant industries, according to The Dallas Morning News.
Valley Proteins employs around 1,900 workers and operates over five-hundred vehicles. The company is also a leading exporter of poultry-based fats and proteins used in the production of biofuels.
“In the evolving world of ESG and global decarbonization, Valley Proteins will supplement Darling’s global supply of waste fats and greases,” said Randall C. Stuewe, Darling Ingredients CEO, in a statement.
According to Stuewe, the new supply chain will provide their company with more low-carbon feedstock, which will be used in the production of renewable diesel and potentially sustainable aviation fuel.
Darling Ingredients has around two hundred operations facilities and ten thousand workers all around the globe. The firm is headquartered in Irving.
The company collects animal-based and agricultural ingredients like slaughterhouse wastes and used cooking oil which it repurposes into materials that are sent back into the market for sale, according to The Dallas Morning News.
The company produces edible and feed-grade fats, pet food ingredients, collagen, fuel feedstocks, and green bioenergy.
According to The Dallas Morning News, Stuewe has been transforming Darling Ingredients from a company focused on animal feed and food ingredients to one that manufactures bio-friendly hydrocarbon fuel.
