Heartland Food Products to Buy Splenda From J&J Unit

By Tripp Mickle 

Heartland Food Products Group said Tuesday it reached an agreement to acquire the artificial sweetener brand Splenda from a subsidiary of Johnson & Johnson.

Financial terms weren't disclosed. Heartland said private-equity firm Centerbridge Partners LP assisted in closing the deal and would become a shareholder in Heartland after the acquisition is completed.

Heartland is based outside Indianapolis and produces sucralose, stevia and other sweeteners. Its brands include Sunkist Water Enhancer and Sunkist Liquid Drink Mix.

Splenda sweetener products contain sucralose, a no-calorie sweetener. The product, which is recognized by its yellow packaging with light blue lettering, can be used as a substitute for sugar in everything from baking a pie to making low-calorie soda. It was developed by researchers at a British college and approved by the FDA in 1998.

Diet Pepsi raised awareness of sucralose in April when it announced it would substitute sucralose for aspartame, another artificial sweetener. The company introduced Diet Pepsi with sucralose this month.

Write to Tripp Mickle at [e-mail]

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(END) Dow Jones Newswires

August 25, 2015 15:27 ET (19:27 GMT)

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