Darling Ingredients Inc. Completes Acquisition of Brazil's Largest Independent Rendering Company, FASA Group
Darling Ingredients Inc. (NYSE: DAR) has successfully acquired FASA Group, Brazil's largest independent rendering company, for approximately R$2.8 billion (about $542.6 million).
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Rhea-AI Summary
Darling Ingredients Inc. (NYSE: DAR) has successfully acquired FASA Group, Brazil's largest independent rendering company, for approximately R$2.8 billion (about $542.6 million). This acquisition, first announced in May 2022, includes 14 processing plants capable of handling over 1.3 million metric tons annually, with two additional plants under construction. CEO Randall C. Stuewe noted that this move significantly enhances their specialty ingredients business and mitigates supply chain risks by providing low-carbon waste fats for renewable diesel and sustainable aviation fuel production.
Positive
- Acquisition of FASA Group strengthens market position in Brazil.
- Expected immediate accretion to financial performance.
- Diversifies supply chain with additional sources of low-carbon waste fats.
Negative
- None.
Details
News Market Reaction – DAR
The recorded move for DAR in the trading session of this news was +0.84%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
IRVING, Texas, Aug. 1, 2022 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's premier company repurposing animal and food byproducts into specialty food and feed ingredients and a leader in decarbonization solutions, today announced it has completed the acquisition of Brazil's largest independent rendering company, FASA Group.
The company first announced the acquisition in May 2022 for a purchase price of approximately R
"Brazil will play a big role in feeding a growing world population, which makes it a premier location to grow our specialty ingredients business," Randall C. Stuewe, Chairman and Chief Executive Officer, Darling Ingredients. "FASA is a well-run business, will be immediately accretive and further de-risks the supply chain by providing an additional source of non-food based, low-carbon waste fats to be used in the production of renewable diesel and sustainable aviation fuel."
About Darling
Darling Ingredients Inc. (NYSE: DAR) is the largest publicly traded company turning edible by-products and food waste into sustainable products and a leading producer of renewable energy. Recognized as a sustainability leader, the company operates 250 plants in 17 countries and repurposes nearly
Contact:
Suann Guthrie
VP, Investor Relations, Sustainability & Communications
(469) 214-8202, Suann.guthrie@darlingii.com
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SOURCE Darling Ingredients Inc.
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