Tessenderlo Group and Darling Ingredients sign definitive agreements to combine collagen and gelatin segments

New joint venture will combine Darling's Rousselot brand with Tessenderlo's PB Leiner activity

Mar. 27, 2026 at 1:51pm

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Tessenderlo Group and Darling Ingredients Inc. have signed definitive agreements to combine their collagen and gelatin segments into a new company, with Darling Ingredients holding a majority 85% ownership stake and Tessenderlo Group holding the remaining 15%. The transaction is expected to close in 2026 pending regulatory approvals. Additionally, Tessenderlo Kerley Inc. has opened a new liquid fertilizer production facility in Defiance, Ohio, and Picanol Group has acquired Swiss powder press specialist Osterwalder AG.

Why it matters

The combination of Darling's Rousselot brand and Tessenderlo's PB Leiner activity creates a global leader in the collagen and gelatin market. The new joint venture will leverage the strengths and expertise of both companies to better serve customers worldwide. Tessenderlo's expansion into Ohio and acquisition of Osterwalder also demonstrate the company's strategic focus on growing its Agro and Machines & Technologies segments.

The details

The new joint venture will combine Darling Ingredients' collagen and gelatin business, branded as Rousselot, with Tessenderlo's PB Leiner activity. Darling Ingredients will hold a majority 85% ownership stake, with Tessenderlo Group holding the remaining 15%. The transaction is expected to close in 2026 pending regulatory approvals. Tessenderlo Kerley, Inc. also celebrated the opening of its newest liquid fertilizer production facility in Defiance, Ohio, a major milestone in the company's commitment to advancing sustainable agriculture. Additionally, Picanol Group acquired the activities of Osterwalder AG, a Swiss specialist in electric powder presses, further strengthening its Machines & Technologies segment.

  • On December 11, the Group announced the signing of definitive agreements with Darling Ingredients Inc.
  • In August, Tessenderlo Kerley, Inc. celebrated the opening of its newest liquid fertilizer production facility in Defiance, Ohio.
  • In June, Picanol Group acquired the activities of Osterwalder AG, a Swiss specialist in electric powder presses.
  • On October 3, Tessenderlo Kerley Inc. announced the acquisition of Eastman's Metam Sodium (CLR 42%) and Metam Potassium (KLR 54%) product labels in the United States and Canada.
  • In 2025, the group acquired 1,492,496 treasury shares and cancelled 987,561 and 1,096,747 treasury shares in March and December 2025 respectively.

The players

Tessenderlo Group

A Belgian diversified industrial group that operates in the Agro, Bio-valorization, Industrial Solutions, Machines & Technologies, and T-Power segments.

Darling Ingredients Inc.

An American company that collects and transforms animal by-products and used cooking oil into sustainable ingredients, such as collagen and gelatin.

Tessenderlo Kerley, Inc.

The Agro segment of Tessenderlo Group, which produces and distributes liquid fertilizers and crop protection products.

Picanol Group

The Machines & Technologies segment of Tessenderlo Group, which produces weaving machines, foundry and mechanical finishing equipment, and electronic control systems.

Osterwalder AG

A Swiss specialist in electric powder presses, serving industries such as hard metals and specialty materials.

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