The proposed transaction, which includes the Maxwell House, Gevalia, Nabob, Yuban, Tassimo, Ethical Bean, and Sanka brands, is expected to close in mid-2027, subject to regulatory approval and other customary closing conditions.

The Kraft Heinz leadership team and Board of Directors determined that the strategic rationale behind the transaction is compelling, as it reflects the company’s strategy to prioritize investments and resources toward areas of the business where Kraft Heinz can accelerate growth and deliver the best value to consumers, customers and shareholders.

“This transaction is a meaningful step in unlocking value from our portfolio and will further accelerate the momentum behind our transformation,” said Steve Cahillane, CEO of Kraft Heinz, in a statement. “We are proud of the role these brands have played in the lives of generations of coffee drinkers, and our continued stake reflects the confidence we have in their long-term potential under One Rock's focused ownership.”

The net cash proceeds after taxes are expected to be approximately $500 million, which are planned to be used to pay down debt. The transaction is expected to be growth and margin accretive to Kraft Heinz.

The transaction is expected to include the assets, brands, customer support, and functional resources needed to operate the North America coffee business. The company expects approximately 250 full-time employees across supply chain, sales, marketing, finance, people and performance, and R&D to transition with the Business, along with its coffee manufacturing facilities in Jacksonville, Fla., and Vancouver, British Columbia.

“We have long admired Kraft Heinz’s iconic coffee brands, such as Maxwell House and Gevalia, which have been household staples for more than 100 years,” said Tony W. Lee, managing partner of One Rock. “We intend to accelerate investment across the brand portfolio to drive growth and innovation, enhance the consumer experience, and strengthen relationships with retail partners.”

One Rock has partnered successfully with a range of leading global corporations on carve-out transactions. The North America coffee business, brands, and team will benefit from One Rock’s relevant portfolio expertise, focused investment, and operating resources, the company says.

Rothschild & Co and Centerview Partners LLC are serving as financial advisers to Kraft Heinz. McGuireWoods LLP is serving as legal adviser to Kraft Heinz. Deutsche Bank Securities Inc. and Fifth Third Securities are serving as financial advisers to One Rock. Latham & Watkins LLP is serving as legal adviser to One Rock.