Kraft Heinz to divest its North American coffee business in $650 million deal

Kraft Heinz plans to sell its North American coffee business to private equity firm One Rock Capital Partners in a deal valuing the unit at $650 million. The sale is part of a wider effort to focus on core brands and reduce debt, while the company retains a minority interest.

The unit includes Maxwell House and Gevalia, and the deal is expected to close in mid-2027. Kraft Heinz expects $500 million in after-tax cash proceeds, which it plans to use to pay down debt, and will keep a 30% non-controlling stake. The announcement came as the company reported better-than-expected third-quarter earnings, raised its 2026 outlook and said it expects organic net sales to fall by 0.5% to 1.25%.