Finland-headed oil refiner and renewable products producer Neste Oyj has announced that it has agreed to acquire 100 percent of Walco Foods Ltd, an Irish trader of animal fats.
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Walco Foods was established in 1996 as a family-run business. The in-depth knowledge and market understanding developed over the years has helped Walco Foods become a leading animal fat and by-products trading company in Ireland.
This is another important step for Neste in the execution of our growth strategy. With this acquisition we continue to build a global waste and residue raw material platform and add trading capabilities in Ireland, said Matti Lehmus, President and CEO of Neste.
Together with the previously announced acquisitions of IH Demeter, Bunge Loders Croklaan, and Count Terminal in the Netherlands, and Mahoney Environmental and Agri Trading in the United States, the acquisition will enhance Neste’s supply of global waste and residue raw materials.
Neste refines waste, residues, and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
This is possible thanks to its proprietary NEXBTL technology – a platform that allows the company to turn a wide variety of renewable waste and residues and oils into premium fuels and other products.
The transaction is subject to the fulfillment of customary closing conditions and regulatory approval.
