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5h ago

Keurig Dr Pepper to Acquire JDE Peet’s for $18 Billion, Split Into Two U.S.-Listed Businesses

Regulatory approvals now precede a targeted first-half 2026 close.

A cup of coffee in an arranged photo outside a Peet's Coffee & Tea store in Washington, DC, US, on Monday, Aug. 25, 2025. Keurig Dr Pepper Inc. agreed to buy JDE Peet’s NV for €15.7 billion ($18.4 billion) to bolster its struggling coffee business before kicking off a split of its operations. Photographer: Stefani Reynolds/Bloomberg

Overview

  • The all-cash deal values JDE Peet’s at €31.85 per share and is expected to lead to a delisting from Amsterdam once completed.
  • Keurig Dr Pepper plans to separate into Global Coffee, with roughly $16 billion in annual sales, and Beverage, with about $11 billion, each trading in the United States.
  • Tim Cofer will lead the beverages company while CFO Sudhanshu Priyadarshi will head the new coffee company, with about $400 million in projected synergies over three years.
  • The combined coffee platform is intended to challenge global leaders such as Nestlé and Starbucks, adding international brands including L’OR, Jacobs, Douwe Egberts and Peet’s.
  • JDE Peet’s shares rose roughly 17% and Keurig Dr Pepper fell about 8% after the announcement, as the companies cited drought-driven supply strains and a new 50% U.S. tariff on Brazilian coffee.