Heartland Food Products Group to Buy Splenda
Heartland Food Products Group, a producer of low calorie sweeteners, drink mixes, coffee, and nutritional beverages, will acquire the Splenda low calorie sweetener brand from McNeil Nutritionals, LLC, a subsidiary of Johnson & Johnson Consumer Inc.
According to Ted Gelov, Heartland Chairman & CEO, the acquisition will enhance the company's ability to offer products that support customers' growing desire to live healthier lives.
The transaction is expected to close before the end of the year. The financial terms of the transaction have not been disclosed.
During the process Heartland gained an investment partner, Centerbridge Partners, L.P., a private investment firm with $25 billion in assets under management. Centerbridge was instrumental in bringing the acquisition to completion.
"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," said Jason Mozingo, Senior Managing Director at Centerbridge Partners, which will become a shareholder in Heartland upon consummation of the transaction.
The acquisition of Splenda is expected to provide over 100 new jobs across the Indianapolis manufacturing plant, distribution center, and Carmel corporate office.
According to Ted Gelov, Heartland Chairman & CEO, the acquisition will enhance the company's ability to offer products that support customers' growing desire to live healthier lives.
The transaction is expected to close before the end of the year. The financial terms of the transaction have not been disclosed.
During the process Heartland gained an investment partner, Centerbridge Partners, L.P., a private investment firm with $25 billion in assets under management. Centerbridge was instrumental in bringing the acquisition to completion.
"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," said Jason Mozingo, Senior Managing Director at Centerbridge Partners, which will become a shareholder in Heartland upon consummation of the transaction.
The acquisition of Splenda is expected to provide over 100 new jobs across the Indianapolis manufacturing plant, distribution center, and Carmel corporate office.