(Reuters) – Sustainable food processing company Darling Ingredients said on Tuesday it agreed to buy Valley Proteins, a startup focused on waste collection and recycling, for $1.1 billion in an all-cash deal. .
The company said the acquisition will provide Darling Ingredients with additional low-carbon feedstocks to produce renewable diesel and sustainable jet fuel.
Darling Ingredients is a clean, renewable energy producer that collects waste streams from the agri-food industry, redirecting it into specialty ingredients including protein, animal meal, plasma, pet food and green bioenergy.
Climate awareness and investor interest in sustainable business practices have increased this year, as companies and investors look to introduce ESG policies.
Earlier this month, Sonoco Products Co (SON.N), a packaging products company, said it would buy sustainable metal packaging maker Ball Metalpack for $1.35 billion to expand its sustainable packaging portfolio. Read more
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Additional reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguly and Magu Samuel
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