Darling Ingredients and Tessenderlo to combine collagen/gelatin businesses into Nextida JV; Darling to own 85%

DARLING INGREDIENTS INC.

Darling to hold 85% ownership in new company Nextida; Tessenderlo 15%; no cash exchanged.
Combined annual revenue expected ~$1.5B; total gelatin/collagen capacity ~200k metric tons across 23 facilities.
Transaction subject to due diligence, definitive agreements, and regulatory approvals; anticipated close in 2026.
Combines Rousselot (Darling) and PB Leiner (Tessenderlo) brands; creates platform for accelerated product development.

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