Johnson & Johnson Will Sell Splenda Sweetener to Heartland Food

Johnson & Johnson agreed to sell its Splenda lineup to Heartland Food Products Group, abandoning a product that has ascended to the top of the low-calorie sweetener market over the past two decades but also brought controversy.

J&J’s McNeil Nutritionals unit will sell the brand to Heartland for an undisclosed amount, according to a statement on Tuesday. Heartland has been working on the deal with Centerbridge Partners LP, an investment firm with $25 billion in assets under management. Centerbridge will become a shareholder in Heartland once the purchase is completed.