Neste to acquire the majority of animal fat trader IH Demeter

Neste, a producer of renewable fuels from waste and residues, has entered into an agreement for sole control and 51% of the shares of IH Demeter. The current owners shall remain as co-owners. The transaction is awaiting regulatory approval.

“This is an important step for Neste in our strategy of building a global waste and residue raw material platform to secure raw material availability and competitiveness. We are very happy that the owners of IH Demeter B.V. accepted our offer and trust us to develop the business further,” says Kaisa Hietala, executive vice president of Renewable Products business at Neste.

Hietala adds that IH Demeter’s European logistical operation will serve Neste well in delivering raw material to its renewable product refineries.

“We are proud of our raw material sourcing know-how and our capability of managing logistics of animal fats and proteins. The company has a long and successful history in operating as a family owned business. Now, we are happy to join Neste to further build up our business and secure future growth,” says Floris Ebeli of IH Demeter.

The sale and purchase agreement has been signed; the purchase price will not be disclosed. The new company will be called Neste Demeter.