Glanbia sells SlimFast US brand to Splenda owner Heartland Food Products Group
The acquisition underscores consolidation trends within the functional food and beverage sector, as companies seek to reposition portfolios.
USA – Global nutrition group Glanbia has agreed to sell its SlimFast US brand to Heartland Food Products Group, the owner of Splenda, in a deal that reflects shifting consumer trends and the growing impact of GLP-1 weight-loss drugs on legacy diet businesses.
The financial terms of the transaction have not been disclosed.
For Heartland Food Products Group, the deal adds another well-known brand to its portfolio of better-for-you products, which already includes Splenda, drink mixes, coffee, and nutritional beverages.
Heartland Chairman and CEO Ted Gelov said SlimFast aligns with the company’s mission to help consumers make healthier choices.
“The addition of SlimFast to the Heartland family, alongside our Splenda brand, reinforces our commitment to helping consumers live healthier, more balanced lives,” Gelov said. “Both brands share a common purpose: empowering people to make better choices without sacrificing taste or enjoyment.”
SlimFast, founded in 1977 and acquired by Glanbia in 2018 for US$350 million, sells diet shakes, bars, and snacks.
Once considered a household name in the diet sector, SlimFast has faced mounting challenges in recent years.
In February 2025, Glanbia classified SlimFast as a non-core asset and signaled its intention to divest, citing “continuing challenges in the diet category.”
The company also booked a US$91.4 million non-cash impairment charge against the brand in its 2024 results.
Market Shifts Pressure Legacy Brands
SlimFast’s struggles have coincided with sweeping changes in consumer behavior.
Sales of traditional weight-loss shakes and meal replacements have declined sharply since 2022, as more Americans turn to GLP-1 prescription drugs such as Ozempic and Wegovy to manage their weight.
At the same time, consumers are increasingly opting for high-protein products and functional nutrition solutions, leaving traditional diet brands under pressure.
By mid-2025, SlimFast accounted for less than 7% of Glanbia’s branded portfolio, making it a candidate for divestiture as the Ireland-based group sharpened its focus on high-growth categories.
A separate process is underway for SlimFast operations outside the United States.
Industry Outlook
The acquisition underscores consolidation trends within the functional food and beverage sector, as companies seek to reposition portfolios around evolving consumer needs.
While GLP-1 drugs are reshaping the weight management landscape, Heartland is betting that SlimFast, paired with Splenda, can remain relevant by addressing both weight control and sugar reduction, two of the most influential nutrition trends shaping the market today.
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