Glanbia plc, recognized as the Better Nutrition company, has announced an agreement to sell SlimFast US, along with operations in select other jurisdictions. This transaction hinges on customary closing conditions and entails an undisclosed sum. The buyer, a US-based consumer-packaged goods firm, aims to enhance its portfolio through this acquisition.
Located near Indianapolis, Heartland is known for producing the prominent US sweetener brand, Splenda. The company also manufactures a variety of low and no-calorie sweeteners, drink mixes, coffee, and nutritional beverages, establishing a strong foothold in the food manufacturing sector.
“The addition of SlimFast to the Heartland family, alongside our Splenda Brand reinforces our commitment to helping consumers live healthier, more balanced lives,” stated Ted Gelov, Heartland chairman and CEO.
“Both brands share a common purpose, empowering people to make better choices without sacrificing taste or enjoyment. Together, we can deliver trusted solutions in weight management and sugar reduction, two of the biggest consumer needs shaping the future of nutrition.”
In 2018, Glanbia acquired SlimFast from KSF Holdings LLP and HNS Intermediate Corporation for $350 million, aiming to enhance its performance nutrition brand portfolio. However, the company announced its intention to divest the brand earlier this year due to underperformance in the evolving market.
While SlimFast initially experienced robust sales, Glanbia indicates that consumer behavior around weight loss shifted significantly since the Covid-19 pandemic, leading many to explore alternatives such as high-protein products and other nutritional solutions.
In a statement, Glanbia articulated: “As part of its portfolio review and to ensure the Group can focus on high-growth opportunities, the Group has evaluated the role of its Benelux Direct-to-Consumer e-commerce business, Body & Fit, and its weight management brand SlimFast, making the decision to exit both businesses. The Group continues to evaluate its broader portfolio with a focus on delivering sustainable and profitable growth.”
“It has right-sized its investment for the SlimFast brand in recent years. In 2024, SlimFast represented less than 7% of Glanbia’s branded portfolio.”
“Strategically, the business is sharpening focus and investment on the brands with the greatest potential to grow. As a result of this, we have made the decision to exit the SlimFast brand.”
The process of selling the remaining SlimFast operations, including the UK division, is currently ongoing.
