Heartland Food Products Group, a global producer and marketer of low calorie sweeteners, drink mixes, coffee, and nutritional beverages for consumer markets says it has entered into a definitive agreement to acquire the Splenda low calorie sweetener brand from McNeil Nutritionals, LLC, a subsidiary of Johnson & Johnson Consumer Inc.
Splenda is a low-calorie sweetener brand.
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,” said Ted Gelov, Heartland chairman and CEO.
“Splenda fits well within our strategy to offer the very best tasting products to sweeten foods and beverages without adding calories.”
During the process Heartland gained an investment partner, Centerbridge Partners, a private investment firm with US$25 billion in assets under management.
Centerbridge was instrumental in bringing the acquisition to completion.
The acquisition of Splenda is expected to provide over 100 new jobs across the Indianapolis manufacturing plant, distribution center, and Carmel corporate office.
