Kraft Heinz to Sell North American Coffee Unit for $650 Million

Kraft Heinz will sell its North American coffee business to One Rock Capital Partners in a deal valued at $650 million on an enterprise basis, while retaining a minority stake and using proceeds to reduce debt. The company expects $500 million in after-tax cash proceeds from the transaction. It will keep a 30% noncontrolling equity stake in the business, which is expected to close in mid-2027. The business includes Maxwell House and Gevalia. The sale comes as CEO Steve Cahillane focuses Kraft Heinz on its core brands and works to turn around the company.

Source: TokenPost