Darling Ingredients completes acquisition of Brazilian rendering company FASA Group
As the American ingredients producer believes in the promising future of the Latin American nation, this acquisition helps strengthen its business in the region.
The deal also includes the acquisition of 14 plants processing more than 1.3 million metric tons annually, with an additional two plants under construction.
“Brazil will play a big role in feeding a growing world population, which makes it a premier location to grow our specialty ingredients business,” said Randall Stuewe, Chairman and Chief Executive Officer at Darling Ingredients.
In May, the Texas-based business announced the takeover of FASA Group for an approximate amount of R$2.8 billion ($540 million).
A big player
According to the Associação Brasileira de Reciclagem Animal (ABRA), FASA Group is among the largest players in the Latin American rendering industry.
The company was created in 2010 after the merger of Faros Brasil Group, one of the largest companies in the animal recycling segment in Brazil, and SAPI Group, which has been providing rendering services to the agri-food industry in Italy for over 50 years.
“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”, noted Stuewe.
Darling Ingredients operates 250 plants in 17 countries and repurposes nearly 10% of the world’s meat industry waste streams into value-added products. It claims to be the only publicly-traded company in its segment with 10,000 employees.
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