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2h ago

Keurig Dr Pepper to Acquire JDE Peet's for €15.7 Billion at 33% Premium

The purchase sets up a planned post-transaction split into two U.S.-listed companies that would effectively unwind the 2018 Keurig–Dr Pepper Snapple merger.

Bottles of Dr. Pepper soda on a supermarket shelf in New York on January 29, 2018.
Dr Pepper soda cans for sale are pictured at a grocery store in Pasadena, California, U.S., February 14, 2018. REUTERS/Mario Anzuoni/File Photo
L'or coffee packets are seen at a Carrefour supermarket in Brussels, Belgium, May 22, 2020. REUTERS/Francois Lenoir/File Photo
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Overview

  • Keurig Dr Pepper agreed to pay €31.85 in cash per JDE Peet's share, valuing the equity at about €15.7 billion (roughly $18.4 billion).
  • The offer represents a 33% premium to JDE Peet's 90-day volume-weighted average price, according to the companies.
  • JDE Peet's will distribute a previously declared dividend of €0.36 per share before the deal closes.
  • Following completion, Keurig Dr Pepper intends to separate its beverage and coffee businesses into two distinct U.S.-listed companies.
  • The Wall Street Journal first reported the deal, which the companies confirmed shortly afterward.