INDIANAPOLIS — Heartland Food Products Group, a producer and marketer of low-calorie sweeteners and beverages, has agreed to acquire the Splenda low-calorie sweetener brand from McNeil Nutritionals, L.L.C., a subsidiary of Johnson & Johnson Consumer Inc. Financial terms were not disclosed.
|Ted Gelov, chairman and c.e.o. of Heartland.|
“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, chairman and chief executive officer of Heartland. “Splenda fits well within our strategy to offer the very best tasting products to sweeten foods and beverages without adding calories.”
Heartland partnered in the investment with Centerbridge Partners, L.P., a private investment firm with $25 billion in assets under management. Centerbridge will become a shareholder in Heartland upon completion of the transaction.
The acquisition is expected to provide more than 100 new jobs to the Indianapolis manufacturing plant, distribution center and Carmel, Ind., corporate office.
With production facilities in Indianapolis and The Netherlands, Heartland Food Products Group manufactures low-calorie sweetener products, creamers, beverage concentrates, coffee and nutritional drinks. The company supplies sucralose, stevia, saccharin, aspartame and monk fruit based sweeteners to retailers in the United States and globally.
London-based Tate & Lyle P.L.C., which supplies Splenda sucralose, said it is not affected by the acquisition.
"Tate & Lyle is licensed to use the Splenda brand name and will continue to provide Splenda sucralose to our many customers across the world," the company said in a statement.