Kraft Heinz announced it will divest its North American coffee business, including Maxwell House and Gevalia, to private equity firm One Rock Capital Partners in a deal valuing the unit at $650 million on an enterprise basis. The transaction is expected to close in mid-2027, and Kraft Heinz will keep a 30% noncontrolling stake. The company plans to use $500 million in post-tax cash proceeds to pay down debt. Alongside the announcement, Kraft Heinz reported third-quarter earnings above expectations and raised its 2026 outlook, now expecting organic net sales to fall 0.5% to 1.25%, compared with a decline of up to 2% projected previously. Shares were up about 5% on Wednesday morning.
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