Nestle had announced that it has sold its premium sports nutrition business under the PowerBar and Musashi brands to Post Holdings, a US based consumer packed goods holding company. Nestlé's premium sports nutrition business operates mostly in the US, Canada, Western Europe, Australia, New Zealand and Japan.
Post Holdings, based in St Louis, Missouri, is a leading manufacturer, marketer and distributor of branded ready-to-eat cereals in the United States and Canada.
Nestle, the world's leading Nutrition, Health and Wellness Company, employs 339,000 people and its products are sold in almost every country in the world.
The transaction is subject to customary closing conditions.