In the United States (US), Darling Ingredients Inc., a global developer, and producer of sustainable natural ingredients from edible and inedible bio-nutrients has announced that it entered into a definitive agreement to acquire all of the shares of Valley Proteins, Inc. for approximately US$1.1 billion in cash subject to customary closing conditions.
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Valley Proteins operates 18 major rendering- and used cooking oil (UCO) facilities throughout the southern, southeast, and mid-Atlantic regions of the United States. The company has 1 900 employees and operates a fleet of 550 vehicles.
We are pleased to add Valley Proteins to our global ingredient family and we expect this acquisition to be accretive post-integration. In the evolving world of ESG and global decarbonization, Valley Proteins will supplement Darling’s global supply of waste fats and greases. The new supply will now provide Darling with additional low-carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel. Valley Proteins has a rich 70 plus year history of providing essential services to the meat processing industry and restaurant locations and our teams will work diligently to complete this acquisition in a timely manner, said Randall C. Stuewe, Chairman and CEO of Darling Ingredients.
The closing of the transaction is subject to customary closing conditions, including the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period.