KDP Announces €15.7 Bln JDE Peet's Deal And Strategic Split Into Coffee And Beverage Giants

Keurig Dr Pepper

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(RTTNews) - Keurig Dr Pepper (KDP) agreed to acquire JDE Peet's (JDEPY,JDEP.AS,JDE.F) in an all-cash transaction valued at 15.7 billion euros. This combination will create a global coffee champion by merging KDP's Keurig, North America's single-serve coffee platform, with JDE Peet's extensive portfolio of international coffee brands, Keurig Dr Pepper said in a statement on Monday.

Following the acquisition, KDP plans to separate into two independent, U.S.-listed publicly traded companies: Beverage Co., a scaled growth challenger in North America's refreshment beverages market; Global Coffee Co.

Until the separation is complete, the combined company will be led by KDP's Chief Executive officer Tim Cofer and Chief Financial officer Sudhanshu Priyadarshi. Upon separation, Cofer will lead Beverage Co., while Priyadarshi will head Global Coffee Co. JDE Peet's Chief Executive officer Rafa Oliveira will remain in his role until the acquisition closes.

Global Coffee Co. will be headquartered in Burlington, Massachusetts, with international operations based in Amsterdam. Beverage Co. will be headquartered in Frisco, Texas.

Under the terms of the deal, KDP will pay JDE Peet's shareholders 31.85 euros per share in cash—a 33% premium to JDE Peet's 90-day volume-weighted average price. JDE Peet's will also distribute a previously declared dividend of 0.36 euros per share prior to closing, with no reduction to the offer price.

The acquisition is expected to unlock approximately $400 million in cost synergies over three years and deliver earnings per share accretion beginning in year one.

KDP will commence an all-cash tender offer to purchase all outstanding ordinary shares of JDE Peet's. An affiliate of JAB Holdings, Acorn Holdings B.V., and certain of JDE Peet's directors and officers have entered into agreements pursuant to which they have committed to tender their shares and vote in favour of the acquisition. As of August 22, 2025, these parties, in aggregate, held 69% of the voting power of JDE Peet's stock.

KDP noted that the transaction will be funded through a combination of new senior unsecured and junior subordinated debt and cash on hand.

The commencement of the tender offer and the closing of the acquisition of JDE Peet's, which was unanimously approved by JDE Peet's Board of Directors, are expected to occur in the first half of 2026.