Oct 18 (Reuters) - Darling Ingredients Inc (DAR.N) said on Tuesday it would buy collagen products maker Gelnex for $1.2 billion in cash as the bioenergy maker looks to boost production of collagen made from grass-fed cattle.
The market for collagen is expected to double in the next five years, Darling said in a statement, as the protein becomes a popular supplement and skin-care product ingredient, with claims to help smooth wrinkles and benefit hair, nails, joints, bones and muscles.
Headquartered in Brazil with five facilities in South America and one in the United States, Gelnex has the capacity to produce 46,000 metric tons of collagen products annually, which it exports to more than 60 countries around the world.
Morgan Stanley & Co LLC acted as Darling's exclusive financial adviser on the deal, which is expected to close in the first quarter of 2023.
Reporting by Arunima Kumar in Bengaluru; Editing by Anil D'Silva
Our Standards: The Thomson Reuters Trust Principles.
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October 18, 2022 at 08:52PM
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Darling Ingredients to buy collagen company Gelnex for $1.2 bln - Reuters
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