- Darling International (DAR) agrees to acquire a unit of Vion Holding for ~€1.6B ($2.17B) in an attempt to help 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.
- DAR says it would finance the deal through a combination of bank debt, public debt and equity; it expects the purchase, excluding one-time charges, before synergies, and pro forma for financing to be immediately accretive to EPS.
Darling buying Vion unit for $2.17B
Oct 7 2013, 07:37 ET