Darling Ingredients, a company that turns food waste into sustainable products, completed the acquisition of Gelnex, a leading global producer of gelatin and collagen products on March 31.
The company first announced the acquisition in October 2022 for a purchase price of approximately $1.2B, plus or minus closing adjustments and costs. As part of the transaction, Darling Ingredients has acquired five facilities in South America and one in the United States, with the capacity to produce 46,000 metric tons of gelatin and collagen products annually. Darling Ingredients estimates that Gelnex will contribute approximately $75M in EBITDA toward Darling's earnings in 2023, net of inventory and integration costs.