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Darling Ingredients history
Darling Ingredients company history timeline
The roots of Darling Ingredients go back to 1882 and the founding of rendering company Ira C. Darling & Company in Chicago, Illinois, which over the years was to evolve into today’s Darling Ingredients.
When Ira Darling died in July 1891, the company was incorporated as Darling & Co., and his brother Lucius assumed the responsibility of running it.
The subsidiaries added along the way were then reorganized in 1962 when Darling-Delaware Company, Inc., was incorporated to house them all.
In August 1986 Darling's headquarters was moved to Dallas, and the new investors quickly took steps to make their minimal investment produce a maximum payoff.
Owing more than $300 million the company had to contend with $43 million in annual interest payments, and by early 1990 was unable to comply with all of its bank covenants.
Nor did it stave off legal action from disgruntled bondholders, who filed a lawsuit in 1991.
The Darling investors and bondholders wrangled in court for three years, the matter finally settled in late 1993 in what was deemed to be the longest financial restructuring in the history of corporate America.
Darling returned to the acquisition trail in 1996, paying $10.4 million for Kearny, New Jersey-based Standard Tallow Corp.
The company also became involved in the grease-trap cleaning business through the 1997 acquisition of Torvac.
Hence, revenues fell to $337 million and the company posted a $16.8 million loss from continuing operations in 1998.
Poor conditions continued in 1999, as another $78.4 million in sales were lost, most of which was due to the ongoing dip in finished product prices.
July: DAR joins Russell 2000 Index
One positive development was the introduction of the CleanStar 2000 system.
Sonac was founded in 2001 with the purpose of providing new, safe and fully traceable solutions for the pet food industry.
In 2002, Rousselot became a part of VION Ingredients, a worldwide leader in the development and production of specialty ingredients of animal origins.
In May 2003 Darling hired Chicago investment bank BMO Nesbitt Burns to help determine ways to increase the value of shareholders' interests and provide them with some possible liquidity.
Sales increased to $323.3 million and net income totaled $18.2 million in 2003.
Shlachter, Barry, "Darling Will Buy One of Its Largest Rivals," Fort Worth Star-Telegram, December 21, 2005.
In January of 2014, Darling Ingredients expanded its operations to span five continents.
Issues $250 million of senior subordinated notes due in 2018
"Darling International Inc. ." International Directory of Company Histories, Volume 85. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/reference/dictionaries-thesauruses-pictures-and-press-releases/darling-international-inc
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Darling Ingredients competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Griffin Industries | 1943 | $380.0M | 3,000 | - |
| POTEN & PARTNERS | 1962 | $12.0M | 110 | - |
| Eco-Energy | 1999 | - | 210 | 3 |
| BJ Energy Solutions | 1872 | $19.0B | 14,400 | 2 |
| BenchMark Energy | 2011 | $1.6M | 3 | - |
| General Petroleum Corporation | - | $990.0M | 750 | - |
| Baker Commodities | 1937 | $46.0M | 700 | 46 |
| GH Berlin Windward | 1920 | $34.0M | 350 | - |
| Senergy Petroleum | 2013 | $1.1M | 20 | 17 |
| Eagle Rock Energy Partners LP | 2003 | $650.0M | 608 | - |
Darling Ingredients history FAQs
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Darling Ingredients may also be known as or be related to Darling Ingredients, Darling Ingredients Inc, Darling Ingredients Inc. and Darling Ingredients, Inc.