US renderer and renewable diesel producer Darling Ingredients has announced it is set to acquire Brazil’s largest independent rendering company FASA Group.
The BRL2.8bn (US$560M) cash acquisition was due to close by the end of this year, subject to customary conditions, the company said.
With 14 rendering plants and two more under construction, FASA Group has a processing capacity of more than 1.3M tonnes/year.
“Brazil is a leader in global agricultural commodities growth and is expected to take on a bigger role in world meat production, making it a premier location for rendering growth,” Darling Ingredients chairman and CEO Randall C Stuewe said. “FASA will also supplement Darling Ingredient's global supply of waste fats.”
Darling Ingredients operates 250 plants in 17 countries and repurposes nearly 10% of the world's meat industry waste streams into value-added products, such as green energy, renewable diesel, collagen, fertiliser, animal proteins and meals and pet food ingredients.