Heartland Consumer Products LLC said Friday that it has closed its buy of the Splenda brand from Johnson & Johnson Consumer Inc. Financial terms weren’t announced. Centerbridge Partners LP is also investing. J.P. Morgan acted as financial advisor to Heartland.
PRESS RELEASE
CARMEL, Ind., Sept. 25, 2015 /PRNewswire/ — Heartland Consumer Products LLC today announced it has completed the purchase of the SPLENDA® brand from Johnson & Johnson Consumer Inc. Global sales for the SPLENDA® brand were approximately $370 million in 2014. Financial terms of the transaction have not been disclosed.
Heartland was assisted in the transaction by Hughes Hubbard & Reed and Benesch, Friedlander, Coplan & Aronoff LLP as legal advisors. J.P. Morgan acted as exclusive financial advisor to Heartland on the acquisition of Splenda and the investment by Centerbridge. Heartland was joined in the transaction by Centerbridge Partners L.P. as a private equity investor and Rabobank as its lead bank.
About Heartland Consumer Products LLC
With the completion of this transaction Heartland becomes the largest producer of tabletop sweeteners in the world. This acquisition complements Heartland’s existing sweetener, liquid water enhancer and aseptic beverage products. Headquartered in Carmel Indianawith offices and manufacturing facilities in Amsterdam and Mexico, Heartland is uniquely positioned to further expand the well-known Splenda® brand worldwide.
SOURCE Heartland Consumer Products LLC
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