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Kraft Heinz to divest North American coffee business in $650M deal

CNBC • November 4, 2026 • business

Key Points:

Kraft Heinz announced the divestiture of its North American coffee unit, including brands like Maxwell House and Gevalia, in a $650 million enterprise value deal with One Rock Capital Partners, expected to close in mid-2027.
The company will retain a 30% noncontrolling stake in the coffee business and plans to use $500 million in post-tax proceeds to reduce debt and focus on accelerating growth in its core brands.
CEO Steve Cahillane emphasized the transaction as a key step in the company’s transformation and highlighted ongoing turnaround efforts, including a $700 million reinvestment into the business.
Kraft Heinz reported better-than-expected third-quarter earnings and raised its 2026 outlook, projecting a smaller decline in organic net sales and improved market share, sales, and volume trends across regions.
Following the announcement, Kraft Heinz shares rose approximately 5% in early trading.

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