Kraft Heinz sells Maxwell House coffee business in $650 million deal

Kraft Heinz is getting out of the coffee cup. The food giant will divest its North American coffee unit, including Maxwell House and Gevalia, to private equity firm One Rock Capital Partners in a deal that values the business at $650 million on an enterprise basis, CNBC reports. The deal is expected to close in mid-2027, and Kraft Heinz will keep a 30% noncontrolling stake. The company says it will use the $500 million of post-tax cash proceeds to pay down debt and focus on the core brands where it can grow faster. For private equity, it is a chance to buy household names; for Kraft Heinz, it is another step in slimming down a portfolio that grew too wide.