Darling Ingredients and Tessenderlo to form new collagen and gelatin company

Darling Ingredients (DAR) signed a definitive agreement with Tessenderlo (TSDOF) to combine the collagen and gelatin segments of their companies into a new company, requiring no cash or initial investment from either party. The proposed new company will combine Darling Ingredients’ collagen and gelatin business, branded as Rousselot, with Tessenderlo Group’s PB Leiner business. Darling Ingredients will hold a majority, 85% ownership stake and Tessenderlo Group will hold the remaining 15%. The combination will result in a new company, initially with expected annual revenue of approximately $1.5B, and total gelatin and collagen capacity of about 200,000 metric tons across 22 facilities located in South America, North America, Europe and Asia. Pending regulatory approvals, the transaction is expected to close in 2026.