Corporate value $650 million... Kraft Heinz agrees to sell North American coffee business

Kraft Heinz ($KHC) agreed to sell its North American coffee business to an affiliate of One Rock Capital Partners at an enterprise value of $650 million (about 873.6 billion won). The deal covers seven North American coffee brands, including Maxwell House and Gevalia, along with related operating assets, customer support operations, and two production plants in Jacksonville, Florida, and Vancouver, British Columbia. About 250 full-time employees across supply chain, sales, marketing, finance, and R&D will transfer with the business. Kraft Heinz will retain a 30% non-controlling stake after closing. The divestiture matters as it trims the packaged-foods maker's portfolio and offloads a slower-growth category while keeping exposure to the brands' upside. Next, watch for regulatory clearance and the final closing terms, including how the retained minority stake is structured.