Terra Renewal Services Acquisition Completed29 August 2013
US - Darling International has completed the acquisition of Terra Renewal Services, a provider of environmental services focused on the collection, hauling, reprocessing, and recycling of waste cooking oil.
The deal was worth about $120 million in cash with an Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of approximately $22.0 million per year.
Darling International Chairman and Chief Executive Officer Randall Stuewe said: "Adding Terra Renewal Services, Inc. and its employees to the Darling family is a natural fit.
"The grease collection business will transition smoothly into our existing footprint and the industrial residuals business adds a new line of service for our rendering raw material suppliers."
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