JACKSONVILLE, Fla. – Kraft Heinz has agreed to sell its North American coffee business to an affiliate of One Rock Capital Partners for an enterprise value of $650 million, while keeping a 30% stake in the business.
The deal includes Maxwell House, Gevalia, Nabob, Yuban, Tassimo, Ethical Bean and Sanka. It is expected to close in mid-2027, pending regulatory approval and other customary conditions.
The transaction includes coffee manufacturing facilities in Jacksonville, Florida, and Vancouver, British Columbia. The Maxwell House coffee plant in downtown Jacksonville is the brand’s last remaining U.S. plant.
About 250 employees are expected to transfer with the business.
Kraft Heinz expects about $500 million in net cash proceeds after taxes and plans to use the money to pay down debt. The company said the transaction is expected to increase growth and margins.
Kraft Heinz CEO Steve Cahillane said the deal supports the company’s strategy to focus investment on areas where it can accelerate growth. He said the company’s retained stake reflects its confidence in the brands’ long-term potential under One Rock’s ownership.
“We are proud of the role these brands have played in the lives of generations of coffee drinkers, and our continued stake reflects the confidence we have in their long-term potential under One Rock’s focused ownership,” he said.
One Rock Managing Partner Tony W. Lee said the firm plans to invest in the brands to drive growth and innovation, improve the consumer experience and strengthen relationships with retail partners.
“We have long admired Kraft Heinz’s iconic coffee brands, such as Maxwell House and Gevalia, which have been household staples for more than 100 years,” he said.
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