Heartland, a global leader in the production of liquid beverage enhancers as well as zero calorie sweetener products for the retail market, has announced that it has reached an agreement to acquire the Splenda sweetener brand from McNeil Nutritionals, a subsidiary of Johnson & Johnson.
The value of the transaction was not 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”, said Heartland’s chairman & CEO Ted Gelov.
Centerbridge Partners partnered with Heartland in the investment and senior managing director Jason Mozingo commented: “We are excited to partner with Heartland through the company’s next phase of growth and development as they integrate and grow the Splenda® brand”.
The transaction is said to enable the opening of 100 new jobs in the Indianopolis plant, distribution centre and Carmel corporate office.
The deal is expected to be completed by the end of the year.
Source: Heartland (via PR Newswire)