Finance
Glanbia to sell SlimFast US to Heartland Food Products group of US
Published by Global Banking & Finance Review®
Posted on September 17, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 17, 2025
2 min readLast updated: January 21, 2026
Glanbia sells SlimFast US to Heartland Food Products, aiming for strategic cost savings. Heartland plans to integrate SlimFast with its Splenda brand.
(This story has been corrected change the spelling to 'Splenda,' not 'Spenda' in paragraphs 2 and 6)
DUBLIN (Reuters) - Irish-based nutrition supplement maker Glanbia on Wednesday said it had agreed to sell its weight management brand SlimFast US to Heartland Food Products Group for an undisclosed sum.
U.S.-based Heartland makes the Splenda brand of low-calorie sweeteners, drink mixes, coffee and nutritional beverages.
The deal for SlimFast is subject to customary closing conditions, and a process is ongoing for the sale of SlimFast in remaining jurisdictions, Glanbia said in a brief statement.
In February, Glanbia took a non-cash impairment charge of $91.4m in its 2024 results to reflect SlimFast's performance and said it would sell the brand as part of a wider plan targeting annual cost savings of at least $50m by 2027.
Glanbia bought SlimFast for $350m in 2018, but sales of its products have plummeted since 2022 as weight-loss drugs upended the diet market and consumers moved away from the low-carbohydrate diets that the 50-year-old brand supports.
"The addition of SlimFast to the Heartland family, alongside our Splenda Brand, reinforces our commitment to helping consumers live healthier, more balanced lives," said Ted Gelov, Heartland chairman and CEO.
"Together, we can deliver trusted solutions in weight management and sugar reduction, two of the biggest consumer needs shaping the future of nutrition."
(Reporting by Graham Fahy; Editing by Kevin Liffey)
SlimFast is a weight management brand known for its meal replacement products aimed at helping consumers lose weight.
A strategic sale refers to the sale of a business or asset that aligns with the seller's long-term business goals.
An impairment charge is an accounting term that reflects a reduction in the value of an asset, indicating it is worth less than its recorded value.
A non-cash impairment charge indicates a decrease in asset value that does not involve an actual cash transaction.
This means that the completion of the transaction depends on meeting standard legal and regulatory requirements.
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