February 3/Vevey, Switzerland/Press Release -- Nestlé announced it has sold its premium sports nutrition business under the PowerBar and Musashi brands to a U.S.-based consumer packed goods holding company, Post Holdings. Nestlé’s premium sports nutrition business operates mostly in the U.S., Canada, western Europe, Australia, New Zealand and Japan.

Post Holdings, based in St Louis, Missouri, is a manufacturer, marketer and distributor of branded ready-to-eat cereals in the U.S. and Canada.

Nestlé employs 339,000 people and its products are sold in almost every country in the world.

The transaction is subject to customary closing conditions.