One Rock Capital to acquire Kraft Heinz's North America coffee business

One Rock Capital Partners has agreed to buy the North America coffee business of Kraft Heinz at an enterprise value of $650 million. The deal covers the Maxwell House, Gevalia, Nabob, Yuban, Tassimo, Ethical Bean and Sanka brands, and Kraft Heinz will keep a 30% non-controlling equity stake in the business.

Kraft Heinz expects net cash proceeds after taxes of about $500 million, which it plans to use to pay down debt. The company said the transaction will be growth and margin accretive. About 250 full-time employees, along with coffee manufacturing facilities in Jacksonville, Florida, and Vancouver, British Columbia, are expected to transfer with the business.

The deal is expected to close in mid-2027, subject to regulatory approval and other customary conditions. Kraft Heinz CEO Steve Cahillane said the sale unlocks value from the portfolio, while One Rock managing partner Tony W. Lee said the firm plans to accelerate investment across the brand portfolio.