Darling Buying Vion Holding Unit For $2.17B
IRVING, Texas (AP) -- Food recycling company Darling International Inc. is buying a unit of Vion Holding N.V. for about 1.6 billion euros ($2.17 billion).
The Irving, Texas, company said Monday that the acquisition will help to diversify its product line.
Vion Ingredients, based in the Netherlands, produces specialty ingredients from animal origin for applications in pharmaceuticals, food, feed, pet food, fertilizer and bio-energy. Its brands include Rendac, Sonac, Ecoson, Rousselot, CTH and Best Hides. The company reported 2012 revenue of about 1.6 billion euros ($2.17 billion).
Dirk Kloosterboer will remain CEO of Vion Ingredients and will become chief operating officer of Darling once the transaction is complete. He will also become a Darling board member.
The deal is expected to close in January 2014, subject to finalization of the required employee consultations in the Netherlands and customary regulatory approvals.