Kraft Heinz to sell coffee business that includes Jacksonville Maxwell House plant for $650M
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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 c