Darling Ingredients acquires Valley Proteins for approximately $ 1.1 billion.

Sustainable food processing company Darling Ingredients Inc. said on Tuesday it had agreed to buy Valley Proteins Inc, a start-up specializing in waste collection and recycling, for approximately $ 1.1 billion. dollars in an all-cash transaction.

The acquisition will provide Darling Ingredients with an additional low-carbon feedstock to produce renewable diesel and potentially sustainable aviation fuel, the company said.

Darling Ingredients is a producer of clean renewable energy and collects waste streams from the food industry, re-used in specialty ingredients including animal protein and meal, plasma, pet food and bioenergy. green.

Climate awareness and investor interest in sustainable business practices have increased this year as companies and investors seek to consider environmental and social governance (ESG) policies.

Earlier this month, packaging supplier Sonoco Products Co said it would buy sustainable metal packaging maker Ball Metalpack for $ 1.35 billion to expand its sustainable packaging portfolio. (Reporting by Manya Saini Bengaluru; edited by Shinjini Ganguli and Maju Samuel)