Kraft Heinz said on Wednesday it would divest its North American coffee business at an enterprise value of $650 million to One Rock Capital Partners, months after CEO Steve Cahillane put a pause on its plans to split the consumer goods maker. Kraft Heinz's coffee unit includes brands such as Maxwell House, Gevalia and Ethical Bean. The divestiture to private equity firm One Rock is expected to close in mid-2027, the company said. The company will retain a 30% non-controlling equity stake in the coffee unit, Kraft Heinz said. Kraft Heinz also reported quarterly results on Wednesday. Its net sales declined nearly 2% to $6.12 billion, but edged past estimates of $6.09 billion, according to data compiled by LSEG.
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