Nestle let go of its PowerBar sports nutrition business — which makes energy bars for workout fanatics across the United States — selling it to cereal giant Post Holdings. Musashi, a leading sports nutrition brand in Australia, was included in Monday’s deal.

Financial terms have not been disclosed, but Kepler Chevreux analyst Jon Cox estimates that Powerbar and Musashi have combined annual sales of about 200 million Swiss francs ($220.8 million).

"As a result, Post Holdings potentially paid up to 400 million Swiss francs for the businesses," he says.

Post says it expects the newly acquired brands to boost sales in its active nutrition business to about $550 million a year. It will fund the acquisition with available cash.

Post Holdings, based in St Louis, is a leading manufacturer, marketer and distributor of branded ready-to-eat cereals in the United States and Canada.

This deal stems from Nestle, the world's biggest food company, reviewing its portfolio to identify brands to be improved or sold. The food giant also said bye to the Jenny Craig weight-loss business in November.

"We have an ongoing process of portfolio review and this decision came out of that," a Nestle spokeswoman writes in an emailed statement. "The divestment allows Nestle Nutrition to focus more closely on the core elements of our business."

Several consumer goods companies are trimming their portfolios as faltering economies have made international trading more difficult. Moody's Investors Service claims, in a recent report, that these reviews could lead to a wave of mergers and acquisitions among food producers.

Nestle reports full-year results on Feb. 13.