Kraft Heinz announced on November 4 that it is selling its North American coffee business to investment firm One Rock Capital Partners in a deal valued at $650 million. The package includes well-known brands such as Maxwell House, Gevalia, Yuban, Tassimo, Nabob, Ethical Bean and Sanka.
The US group will keep a 30% minority stake in the new company and expects net proceeds of about $500 million after taxes, which it plans to use to pay down debt. Around 250 employees and the plants in Jacksonville, Florida, and Vancouver, Canada, are set to move to the new owner.
The sale is part of CEO Steve Cahillane’s plan to focus Kraft Heinz on packaged foods and sauces, with coffee seen as a non-core business. The deal is expected to close in mid-2027. The company has not disclosed the coffee division’s revenue or profit.
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Source: Daily Coffee News