Darling Ingredients entered into a definitive agreement to purchase Brazil's largest independent rendering company, FASA Group for approximately USD 560 million, subject to post-closing adjustments and a contingent payment based on future earnings growth. FASA Group processes more than 1.3 million metric tons annually through 14 rendering plants with an additional two plants under construction and has approximately 2,400 employees.

“Brazil is a leader in global agricultural commodities growth and is expected to take on a bigger role in the world's meat production, making it a premier location for rendering growth,” said Randall C. Stuewe, chairman and chief executive officer, Darling Ingredients. “FASA will also supplement Darling Ingredient's global supply of waste fats, making it a leader in the supply of low carbon waste fats and oils in North and South America to be used in the production of renewable diesel.”

The transaction is subject to customary closing conditions and is expected to close by the end of 2022.