Neste to acquire animal fat trader Walco Foods
Neste strengthens its renewable raw material sourcing by acquiring Irish animal fat trader Walco Foods. The transaction is part of Neste's growth strategy.
Neste Corporation has entered into an agreement to acquire 100% of Walco Foods, an Irish trader of animal fats. The acquisition aims to enhance Neste's global waste and residue raw material platform and add trading capabilities in Ireland.
The transaction is a step in Neste's execution of its growth strategy. According to the company, the acquisition of Walco Foods supports Neste's efforts to build a global raw material platform based on waste and residues. Earlier this year, Neste announced several other strategic acquisitions, including IH Demeter in the Netherlands, and Mahoney Environmental and Agri Trading in the United States.
Walco Foods was established in 1996 and specializes in the trading of animal fats and by-products in the Irish market. The company's in-depth market knowledge and expertise are considered crucial for Neste in its production of renewable fuels.
Neste produces renewable fuels and sustainable feedstock for plastics and other materials by processing waste, residues, and innovative raw materials. The company is the world's leading producer of renewable diesel and sustainable aviation fuel derived from waste and residues.