Centerbridge Partners has made an investment in Heartland Food Products Group to finance the acquisition of the Splenda low calorie sweetener brand from McNeil Nutritionals, a subsidiary of Johnson & Johnson.
Heartland Food Products Group is a producer of low calorie sweetener products, creamers, beverage concentrates, coffee, and nutritional drinks. Heartland produces and markets both store brand and branded offerings in a variety of versions, flavors, and packaging formats. The company is headquartered near Indianapolis in Carmel, IN (www.heartlandfpg.com).
“Splenda is the most iconic low calorie sweetener brand in the world and fits well within our strategy to offer the very best tasting products to sweeten foods and beverages without adding calories,” said Ted Gelov, Heartland’s Chairman & CEO.
According to reports, 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.
Centerbridge Partners invests from $50 million to $300 million in US based leveraged buyouts and distressed securities. The firm has $25 billion of capital under management and is headquartered in New York with an additional office in London (www.centerbridge.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-26-15