Kraft Heinz to sell control of Jacksonville's Maxwell House plant

Kraft Heinz agreed on Nov. 4 to sell a majority stake in its North American coffee business to an affiliate of One Rock Capital Partners, a New York private equity firm, at an enterprise value of $650 million. The sale includes the Maxwell House plant on Jacksonville's East Bay Street, there since 1924 and the brand's last U.S. plant, the Jacksonville Daily Record reports. Kraft Heinz would keep 30%.

Why it matters: if the sale closes, expected in mid-2027, the century-old plant gets a majority owner that says it will invest in the brands. Advisers: Rothschild & Co, Centerview and law firm McGuireWoods for Kraft Heinz; Deutsche Bank, Fifth Third and law firm Latham & Watkins for One Rock.