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Glanbia PLC on Wednesday said it has signed an agreement to sell SlimFast US and ‘certain other jurisdictions’ to Heartland Food Products Group LLC.
The buyer is an Indianapolis, Indiana-based seller of artificial sweeteners such as Splenda. Financial details of the deal have not been disclosed.
Kilkenny, Ireland-based Glanbia designated SlimFast, the weight-loss drinks brand, as a non-core asset back in February.
The Irish food supplements and ingredients company said the process of selling SlimFast in other jurisdictions was ongoing.
Glanbia shares rose 1.4% to €14.10 on Wednesday afternoon in London.
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