Kraft Heinz to sell North American coffee unit to One Rock for $650M

The retained 30% stake signals this is less a clean exit than a structured hand-off, leaving Kraft Heinz exposed to the unit's performance while shedding control — a middle path that keeps some upside but also some accountability. For the packaged-food space, it reinforces a familiar pattern: staples giants offloading slower-growth legacy brands to private equity to protect balance-sheet flexibility, with debt reduction the stated priority over reinvestment. Whether One Rock can extract growth from mature coffee labels that a larger owner could not is the open question, and how the retained minority position is later valued or unwound is worth watching.