Hormel Foods Corp., a global branded food company, announced Feb. 19 that it has entered into a definitive agreement to sell its CytoSport business to PepsiCo Inc. CytoSport’s portfolio includes the protein brands Muscle Milk and Evolve.

“PepsiCo has deep expertise and experience in the sports nutrition category and has been a long-standing distribution partner for CytoSport and the Muscle Milk brand, which puts them in a strong position to grow this dynamic business,” said Jim Snee, Hormel chairman of the board, president and chief executive officer. “We look forward to working with PepsiCo to ensure a smooth transition for our team members, suppliers, customers and consumers.”

Hormel acquired Cytosport in 2014. In 2016, the company launched its first plant-based protein line called Evolve and also revamped the Muscle Milk brand.

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in 30-60 days.