Kraft Heinz sells Maxwell House coffee unit to One Rock for $650M

Kraft Heinz will sell its North American coffee business, including Maxwell House and Gevalia, to private equity firm One Rock Capital Partners at a $650 million enterprise value. Kraft Heinz keeps a 30% noncontrolling stake. It will use about $500 million in post-tax proceeds to pay down debt, and the deal is expected to close in mid-2027.

Why it matters: The sale is a concrete step in CEO Steve Cahillane's turnaround, which focuses on core brands after he paused plans to split the company in two.