By Cara Lombardo and Annie Gasparro

Breaking News

Kraft Heinz Co. is nearing a deal to sell a chunk of its cheese business to France's Lactalis as the U.S. food company seeks to jumpstart growth in its other businesses, according to sources. The deal with French company values the business at about $3.2 billion.

(More to come)

Write to Cara Lombardo at cara.lombardo@wsj.com and Annie Gasparro at annie.gasparro@wsj.com