Heartland Food Products Group to Acquire Splenda® Brand
US-based Heartland Food Products Group, one of the world’s leading producers and marketers of low calorie sweeteners, drink mixes, coffee, and nutritional beverages for consumer markets has agreed to acquire the Splenda® low calorie sweetener brand from McNeil Nutritionals, a subsidiary of Johnson & Johnson Consumer. The transaction is expected to close before the end of the year. The financial terms of the transaction have not been disclosed.
“We are very excited about our opportunity to own the Splenda® brand business and welcome a talented team of professionals to our organization. Splenda® fits well within our strategy to offer the very best tasting products to sweeten foods and beverages without adding calories,” says Ted Gelov, chairman and chief executive of Heartland Food Products Group. “The acquisition of Splenda® further enhances our ability to offer our consumers products that support their growing desire to live healthier lives.”
During the process Heartland gained an investment partner, Centerbridge Partners, a private investment firm with $25 billion in assets under management. Centerbridge was instrumental in bringing the acquisition to completion. Centerbridge Partners will become a shareholder in Heartland upon consummation of the transaction.
