Darling Ingredients Inc. · NYSE:DAR
Darling Ingredients — Merger or Acquisition (May 2025)
10 slides from Darling Ingredients's merger presentation, May 12, 2025
Slide 1: Nextida: Accelerating growth in health, wellness, nutrition products sector
Exhibit 99.2 Nextida: Accelerating growth in health, wellness, nutrition products sector May 12, 2025
Slide 2: Forward-looking statements
This presentation includes “forward-looking” statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. Statements that are not statements of historical facts are forward-looking statements and are ma
Slide 3: Executive Summary
Darling Ingredients and Tessenderlo Group have signed a non- binding term sheet to create Nextida, a ~$1.5B revenue joint venture to support the fast-growing collagen-based health, nutrition and wellness segment 85% owned and consolidated by Darling Ingredients Non-cash transaction, combining assets
Slide 4: Poised to compete in the broader health, wellness and nutrition products sector
Poised to compete in the broader health, wellness and nutrition products sector Top-tier, collagen-based health, wellness and nutrition products company 85% 15% Diversified global Gelatin solutions Global player in Producer in portfolio in attractive for the pharma rapidly growing established region
Slide 5: Highly compelling strategic and financial benefits
Highly compelling strategic and financial benefits Provides expanded infrastructure to Expanded opportunities within total Broader geographical reach to scale support growth in high-value product addressable health and nutrition rapidly in fast growing regions in Europe, offerings, including collage
Slide 6: Growing global demand for health, wellness, nutrition supplements
Growing global demand for health, Targeted wellness markets wellness, nutrition supplements Wellness Sales of dietary supplements in world $15.2B Retail Value RSP – USD million – Current – 2009-2028 Immunity Digestive Bone $81,348 $9.5B $9.1B $7.7B 120,000 Forecast +5.5% CAGR Heart Joint Energy 100,
Slide 7: Building on an innovative health, nutrition platform
Building on an Top-tier collagen-based health, wellness innovative and nutrition products company health, nutrition First collagen and wellness solution Innovative Future platform Launched in Q4 2024 platform of collagen collagen peptide Targets post-meal peptide compositions product glucose spikes
Slide 8: Well positioned for accelerated growth and new product development
Well positioned for accelerated growth and new product development Combined capabilities Rousselot production locations PB Leiner production locations • ~200,000 metric tons extraction capacity • ~70,000 metric tons hydrolyzed collagen capacity • Full complement of raw material collagen options ü Bo
Slide 9: Key transaction terms
Key transaction terms Financial structure Closing Finalizing agreement terms, with transaction Darling Ingredients will hold a majority 85% ownership expected to close in 2026 stake and Tessenderlo Group the remaining 15% Non-cash transaction, combining assets and The term sheet has been unanimously
Slide 10: Driving significant long-term value creation
Driving significant long-term value creation New opportunities for Maximizing Margin accretive accelerated shareholder through access to new geographies / growth value opportunities 10
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