Friday, November 12, 2010

Griffin Industries Sold for $840 Million

KCFC member Griffin Industries, of Cold Spring, Ky., has agreed to be purchased by Darling International Inc. for $840 million in cash and stock.

The deal, expected to closed by year-end, will create the nation’s largest provider of animal rendering, food recycling and recovery services with annual revenues of $1.1 billion, 3,262 employees and 136 sites across the United States.

The purchase includes $740 million in cash and $100 million in Darling stock, which closed at up 11.9 percent or $1.23 at $11.53, a two-year high.

Randall C. Stuewe, Darling chairman and CEO, said in a statement, "The combination of our two companies fills out our national footprint and gives us the ability to better serve our customers from coast to coast."

Read the full story at nky.com.

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