UPDATE 1-Merisant creditors support new reorganization plan

* Reorganization to wipe out $400 mln debt

* Says Wayzata Investment Partners also supports plan

* Says to emerge out of bankruptcy as early as Jan. 1

Oct 6 (Reuters) - Merisant Worldwide Inc [MERWO.UL], maker of the Equal low-calorie sweetener, said its unsecured creditors agreed to support an amended reorganization plan, clearing the way for the company to emerge from bankruptcy.

Merisant, which also makes PureVia sweetener, said the plan was also supported by Wayzata Investment Partners, an investment fund that will convert its loans into a controlling stake in the reorganized company.

The reorganization removes about $400 million in debt from the company's balance sheet, according to court documents.

Merisant, which had sales of $262 million in 2008, filed for bankruptcy protection in January.

The company had steadily lost market share in recent years to Splenda, made by a unit of Johnson & Johnson (JNJ.N), and was unable to service its debt.

Merisant expects to get court approval for the plan and emerge from Chapter 11 as early as Jan. 1, 2010.

The case is In re: Merisant Worldwide Inc, U.S. Bankruptcy Court for the District of Delaware, No.09-10059. (Reporting by Santosh Nadgir in Bangalore; Editing by Gopakumar Warrier)