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Keurig Dr Pepper Announces $18 Billion Deal to Acquire JDE Peet’s, Parent Company of Peet’s Coffee
Keurig Dr Pepper announced Monday that it will acquire JDE Peet’s, the owner of Peet’s Coffee, in a deal valued at approximately $18 billion. Following the acquisition, the company plans to split into two distinct entities: one focused on coffee and the other on beverages.
The coffee-centric company will boast combined sales of roughly $16 billion and include brands such as Peet’s, L’OR, Jacobs, Douwe Egberts, Kenco, Pilao, OldTown, Super, and Moccona. The beverage company, with projected sales of about $11 billion, will retain brands like Dr Pepper, Canada Dry, 7Up, and various energy drinks.
Keurig Dr Pepper CEO Tim Cofer stated that the merger represents “an exceptional opportunity to create a global coffee giant.” After the separation, Cofer will helm the beverage business, headquartered in Frisco, Texas. Keurig Dr Pepper CFO Sudhanshu Priyadarshi will lead the coffee business, which will be based in Burlington, Massachusetts, with international headquarters in Amsterdam.