Starbucks Corp. (SBUX) was reportedly close to selling its retail coffee trading business to Nestle S.A.
The deal was first reported by Inside Paradeplatz, a Swiss financial blog, which said a deal could be announced over the weekend.
Nestle over the past year has focused on acquiring smaller coffee brands such as Blue Bottle Coffee Co. and Chameleon Cold-Brew.
Nestle owns Nespresso, which is a direct rival in the U.S. to Starbucks's retail coffee bean business.
Starbucks' packaged-goods business posted sales of about $1.8 billion in fiscal 2017.
Both companies declined to comment on the report.
Shares of Starbucks were up 2.3% on Friday.