Darling Ingredients Inc. to Acquire Polish Rendering Company Miropasz

Rhea-AI Summary

Darling Ingredients Inc. (NYSE: DAR) has announced its agreement to acquire Polish rendering company Miropasz Group for approximately €110 million. Miropasz processes 250,000 metric tons of poultry waste annually through three plants in Poland and employs around 225 people. This acquisition is expected to enhance Darling's operations in Poland, complementing its existing plants while supporting its commitment to sustainable feedstocks. The transaction is anticipated to close in Q3 2023, subject to customary conditions.

Positive

• Acquisition of Miropasz Group adds significant processing capacity to Darling's operations.
• Strengthens market position in Poland, the leading poultry producer in Europe.
• Supports growth in sustainable feedstocks, aligning with global sustainability goals.

Negative

• None.

IRVING, Texas, Nov. 2, 2022 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's leading company turning food waste into sustainable products and producer of renewable energy, today announced it has entered into a definitive agreement to purchase Polish rendering company, Miropasz Group for approximately €110 million Euros, subject to post-closing adjustments. Miropasz  processes approximately 250,000 metric tons annually through three poultry rendering plants in southeast Poland (Mirowice, Pszcaonow and Krasnystaw), and has approximately 225 employees. 

"As the number one poultry producer in Europe, Poland plays a significant role in feeding the world," said Randall C. Stuewe, Chairman and Chief Executive Officer, Darling Ingredients. "We believe meat production in Poland will continue to grow, and this acquisition provides a nice bolt-on to Darling's existing three plants in central and western Poland and once again displays our commitment toward building out our global supply for low-carbon feedstocks."

The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2023.   

About Darling
Darling Ingredients Inc. (NYSE: DAR) is the largest publicly traded company turning edible by-products and food waste into sustainable products and a leading producer of renewable energy. Recognized as a sustainability leader, the company operates more than 270 plants in 17 countries and repurposes approximately 15% of the world's meat industry waste streams into value-added products, such as green energy, renewable diesel, collagen, fertilizer, animal proteins and meals and pet food ingredients. To learn more, visit darlingii.com. Follow us on LinkedIn.

Darling Ingredients Contacts
Investors:	Suann Guthrie
	VP, Investor Relations, Sustainability & Communications
	(469) 214-8202; suann.guthrie@darlingii.com
Media:	Jillian Fleming
	Director, Global Communications
	(972) 545-7115; jillian.fleming@darlingii.com

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SOURCE Darling Ingredients Inc.

FAQ

What is the purpose of Darling Ingredients' acquisition of Miropasz Group?

The acquisition aims to enhance Darling's poultry processing capacity in Poland and support its commitment to sustainable feedstocks.

How much is Darling Ingredients paying for Miropasz Group?

Darling Ingredients is acquiring Miropasz Group for approximately €110 million.

When is the acquisition of Miropasz Group expected to close?

The transaction is anticipated to close in the third quarter of 2023, subject to customary closing conditions.

What is Miropasz Group's annual processing capacity?

Miropasz Group processes approximately 250,000 metric tons of poultry waste annually.

How does this acquisition impact Darling Ingredients' operations?

It complements Darling's existing plants in Poland, further solidifying its role in the market and enhancing operational efficiency.