Kraft Heinz has agreed to divest its North American coffee business to private equity firm One Rock Capital Partners in a deal that values the unit at $650 million on an enterprise basis. The transaction is expected to close in mid-2027, according to the company.
The business includes the Maxwell House and Gevalia brands. Kraft Heinz will retain a 30% noncontrolling equity stake, while using the expected $500 million in post-tax cash proceeds to pay down debt and focus resources on areas where it sees growth potential.
CEO Steve Cahillane described the sale as a step toward unlocking value from the company’s portfolio and advancing its transformation. Kraft Heinz said it is refocusing on core brands as part of its efforts to revive the business.
The company also reported third-quarter earnings that exceeded expectations and raised its 2026 outlook. It now expects organic net sales to decline by 0.5% to 1.25%, compared with its prior projection that the decrease could reach 2%.
Sources: CNBC Markets.