American food company Kraft Heinz Co. is reportedly near to seal the deal to sell its Planters snack business to Hormel Foods Corp for approximately $3 billion, the Wall Street Journal reported on Tuesday.

The reported net sales of Kraft-Heinz’s in its nuts and salted-snacks segment were somewhat under $1 billion in 2019.

Last year, the company agreed to sell a share of its cheese business to France’s Groupe Lactalis SA for $3.2 billion.