SLIMFAST acquired by HEARTLAND FOOD PRODUCTS
Context
Heartland Food Products Group has acquired the US rights to the SlimFast brand from Glanbia, folding the weight management label into a portfolio that already spans low- and no-calorie sweeteners, drink mixes, coffee and nutritional beverages. The Indianapolis-based manufacturer behind Splenda took control of the brand in a deal framed by chairman and CEO Ted Gelov around two consumer needs—weight management and sugar reduction—which he says share a common purpose of helping people make better choices without sacrificing taste. Splenda, owned and made by Heartland, has been the top zero-calorie sweetener brand in the United States since 1991 and the leading sweetener brand recommended by doctors and dietitians, with a product line covering sweeteners, stevia and monk fruit sweeteners, liquid water enhancers, coffee creamers, diabetic care shakes, syrups and sweet teas. The transaction covers the US rights to SlimFast only, with Glanbia, the Irish nutrition group listed on Euronext Dublin, exiting the brand.
In the past, Slimfast was acquired by Glanbia in 2018 as part of its expansion strategy.
SLIMFAST, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
SlimFast has built its business around weight management and health & wellness products, sold mainly through food, drug, mass and club retailers in the United States and the United Kingdom. The brand family spans ready-to-drink shakes, ready-to-mix powders, and an Advanced Nutrition line of high-protein, high-fibre, gluten-free meal replacement shakes and smoothies. It also includes supplement brands such as Healthy Delights and Nu-Therapy. The United States remains its largest market, where brand awareness is high. In 2017, the company generated $212 million in net sales. The offer targets everyday consumers looking for convenient formats and snacking options within the weight management space.
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2018 | GLANBIA | SLIMFAST | UNITED STATES | Nutrition & Dietary Supplements |
REFERENCES
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: slimfast
Acquirer: heartland food products