Kraft Heinz to divest North America coffee unit amid Cahillane's turnaround effort

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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.