December 16, 2013

Darling International prices public offering of common stock

Darling International Inc. announced that its underwritten public offering of 40,000,000 shares of its common stock was priced at US$19.00/share and is expected to close on December 18, 2013, subject to customary closing conditions.

In addition, Darling has granted the underwriters a 30-day option to purchase up to 6,000,000 additional shares of Darling common stock.

Darling intends to use the net proceeds of the offering to pay a portion of the consideration for the previously announced acquisition of the VION Ingredients division of VION Holding N.V., which is expected to close in January 2014, subject to the fulfilment of certain conditions, and related fees and expenses, or for general corporate purposes if the acquisition is not completed.

Goldman, Sachs & Co., J.P. Morgan and BMO Capital Markets are serving as joint book-running managers for the offering and Avondale Partners is serving as co-manager. The shares will be issued pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website.

Darling International Inc. is the largest and only publicly traded provider of rendering and bakery residuals recycling solutions to the nation's food industry. The company recycles beef, poultry and pork by-product streams into useable ingredients such as tallow, feed-grade fats, meat and bone meal, poultry meal and hides. It also recovers and converts used cooking oil and commercial bakery residuals into valuable feed and fuel ingredients. These products are primarily sold to agricultural, pet food, leather, oleo-chemical and biodiesel manufacturers around the world.