Keurig Dr Pepper Inc. said Monday it has entered into a definitive agreement to acquire JDE Peet’s in an all-cash transaction valued at EUR15.7 billion (USD18.2 billion), a deal that would create the world’s largest pure-play coffee company.
JDE is a world-leading pure-play coffee firm, serving approximately 4,400 cups of coffee per second in more than 100 markets. Its portfolio includes iconic brands including Peet’s, L’OR, Jacobs, Douwe Egberts, Kenco, Pilao, OldTown, Super and Moccona, which combined employ 21,000 staff and generated sales of EUR8.8 billion (USD10.2 billion) in 2024.
Under the deal, KDP will pay EUR31.85 (USD36.95) per share, representing a 33 percent premium to JDE Peet’s 90-day volume-weighted average stock price. Shareholders of JDE Peet’s will also receive a previously declared EUR 0.36 per share dividend, with no reduction to the offer price.
The acquisition will combine Keurig’s single-serve coffee dominance in North America with JDE Peet’s global coffee portfolio. Following the transaction, KDP plans to separate into two U.S.-listed public companies—one focused on global coffee and the other on the North American refreshment beverage market.
The coffee-focused entity, Global Coffee Co., will have approximately USD16 billion in annual net sales and operations in over 100 countries, with leading positions in 40. The North America–focused Beverage Co. will bring in more than USD11 billion annually, competing across a fragmented, fast-growing refreshment segment.
The companies expect to generate USD 400million in cost synergies within three years and earnings per share (EPS) accretion in the first year after closing.
KDP CEO Tim Cofer called the deal a “transformational moment,” while JDE Peet’s CEO Rafa Oliveira said the combination will spark a new era of global coffee innovation.
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