Overview

• Keurig Dr Pepper agreed to acquire JDE Peet’s for €31.85 per share in cash, valuing the deal at about $18 billion and representing roughly a 33% premium.
• Following the acquisition, the company intends to separate into two U.S.-listed entities: Beverage Co., focused on North American refreshment beverages, and Global Coffee Co., a pure-play coffee business.
• Management projects approximately $400 million in cost savings over three years from integration and efficiency initiatives.
• KDP reported fiscal Q2 2025 revenue of $4.16 billion, up 6.14% year over year, with GAAP EPS of $0.49 in line with expectations.
• Executives cited the GHOST acquisition and a 2.2% favorable net price realization as growth drivers, and analysts at Bank of America and Barclays reiterated Buy ratings with $41 and $39 targets, respectively.