Dec 28 (Reuters) - Sustainable food processing firm Darling
Ingredients Inc said on Tuesday it had agreed to buy
Valley Proteins Inc, a startup focused on collection and
recycling of waste, for about $1.1 billion in an all-cash deal.
The acquisition will provide Darling Ingredients with
additional low-carbon feedstock to produce renewable diesel and
potentially sustainable aviation fuel, the company said.
Darling Ingredients is a producer of renewable clean energy
and collects waste streams from the agri-food industry,
repurposed into specialty ingredients including animal proteins
and meals, plasma, pet food and green bioenergy.
Climate awareness and investor interest in sustainable
business practices have surged this year, with companies and
investors looking to factor in environmental social governance
(ESG) policies.
Earlier this month, packaging products provider Sonoco
Products Co said it would buy sustainable metal
packaging maker Ball Metalpack for $1.35 billion to expand its
sustainable packing portfolio.
(Reporting by Manya Saini in Bengaluru; Editing by Shinjini
Ganguli and Maju Samuel)