Heartland Food Products Group Buys North America Rights To Slimfast From Glanbia

Bottles of Slim Fast repast replacement shakes connected waste successful Los Angeles connected 5 January 2023. Credit: calimedia / Shutterstock.com

Splenda proprietor Heartland Food Products Group has acquired nan authorities to nan SlimFast marque successful North America from Irish nutrient ingredients group Glanbia.

The financial position of nan transaction stay undisclosed. 

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Heartland is known for producing nan Splenda branded low-calorie sweeteners, on pinch portion mixes, java and nutritional beverages. 

In a statement, Glanbia said nan woody relates to nan waste of SlimFast successful nan US and “certain different jurisdictions”.

A Glanbia spokesperson told Just Food nan different territories are Canada and Mexico.

It added: “A process is ongoing for nan waste of SlimFast successful remaining jurisdictions.”

Glanbia, which acquired SlimFast successful 2018 for $350m, classified arsenic “non-core” plus by Glanbia successful February. 

At that time, Glanbia said: “As portion of its portfolio reappraisal and to guarantee nan group tin attraction connected high-growth opportunities, nan group has evaluated nan domiciled of its Benelux direct-to-consumer e-commerce business, Body & Fit and its weight guidance marque SlimFast, making nan determination to exit some businesses.  

Glanbia said SlimFast “performed powerfully successful its first years” but added “consumer behaviours astir weight loss” had changed since Covid-19 pinch much liking successful high-protein products.

In August, Glanbia revealed plans to sell its Body & Fit sports-nutrition business, though nan purchaser remains unnamed. 

In a abstracted connection announcing nan deal, Ted Gelov, Heartland’s president and CEO, said: “The summation of SlimFast to nan Heartland family, alongside our Splenda brand, reinforces our committedness to helping consumers unrecorded healthier, much balanced lives.  

“Both brands stock a communal purpose, empowering group to make amended choices without sacrificing sensation aliases enjoyment. Together, we tin present trusted solutions successful weight guidance and sweetener reduction, 2 of nan biggest user needs shaping nan early of nutrition.”

Body & Fit, headquartered successful nan Netherlands, was portion of Glanbia’s Performance Nutrition (PN) unit, which besides oversees nan SlimFast and Optimum Nutrition brands.

For nan six months to 5 July, gross successful Glanbia’s Performance Nutrition portion declined 3.8% connected a constant-currency ground to $850m, pinch volumes down 3.5% and pricing somewhat lower.  

When excluding SlimFast and Body & Fit, gross fell 1.5%. 

Optimum Nutrition contributed 67% of nan division’s revenue, though capacity slipped 0.5% successful nan period.  

The institution noted nan marque returned to gross maturation during nan 2nd quarter. 

Across nan group, Glanbia reported a 6.1% summation successful gross to $1.93bn for nan first half of nan year.  

Volumes were up 0.9% but EBITDA earlier exceptional items declined 7.5% to $241.3m.  

Adjusted net per stock were down 7.5% successful constant-currency position to $63.03. 

Profit attributable to equity holders stood astatine $99.4m, against $143.3m successful nan first half of 2024.

Beyond nan Performance Nutrition segment, Glanbia operates Health and Nutrition and Dairy Nutrition divisions, focusing chiefly connected ingredients for nutrient and beverages, arsenic good arsenic food production.