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Keurig Dr Pepper will acquire Dutch coffee company JDE Peet’s in an $18 billion all-cash deal, the companies announced on Monday.
Under the terms of the deal, Keurig Dr Pepper will pay JDE Peet’s shareholders 31.85 euros ($37.26) per share in cash, a 33% premium to JDE Peet’s 90-day volume-weighted average stock price. This will equate to a total purchase price of 15.7 billion euros ($18.4 billion).
Keurig Dr Pepper 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 stock price. JDE Peet’s will also pay a previously declared dividend of 0.36 euros per share prior to closing.
Keurig Dr Pepper owns some of the biggest drink brands in North America, including Dr Pepper, Canada Dry, 7UP and A&W. It’s also growing quickly in fast-rising categories like energy drinks and functional beverages.
Keurig Dr Pepper’s portfolio includes Canada Dry, 7UP and A&W brands. (Michael M. Santiago/Getty Images) / Getty Images)
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Once the deal closes, the company plans to split its beverage and coffee units into two separate publicly traded businesses: Global Coffee Co. and Beverage Co. Keurig Dr Pepper CEO Tim Cofer will lead Beverage Co. and Keurig Dr Pepper CFO Sudhanshu Priyadarshi will head Global Coffee Co.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KDP | KEURIG DR PEPPER INC. | 35.13 | -0.07 | -0.18% |
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By splitting the two companies into separate entities, Beverage Co. and Global Coffee Co. will each have its own strategy for growth and investment to achieve long-term shareholder value.
JDE Peet’s portfolio includes coffee brands Peet’s and L’OR. (Michael M. Santiago/Getty Images) / Getty Images)
After the transaction, the companies said Global Coffee Co.’s portfolio will include Keurig, Jacobs, L’OR and Peet’s. Global Coffee Co., and will bring in about $16 billion in yearly sales and operate in more than 100 countries.
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Keurig Dr Pepper plans to split its beverage and coffee units into two separate publicly traded businesses after the acquisition. (Daniel Acker/Bloomberg via Getty Images / Getty Images)
This marks a “transformational moment in the beverage industry, as we build on KDP’s disruptive legacy by creating two winning companies, including a new global coffee champion,” Cofer said in a statement.
