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NEW
YORK (AP) — Keurig Dr Pepper said Monday it will buy Peet's
Coffee owner JDE Peet's in a deal worth about $18 billion (15.7
billion euro).
When the acquisition is complete, the company plans to split
into two separate companies, one focused on coffee and the other
focused on beverages including Dr Pepper, Canada Dry, 7Up and
energy drinks.
The coffee business will have about $16 billion in combined
sales and the beverage business about $11 billion.
“Through the complementary combination of Keurig and JDE Peet’s,
we are seizing an exceptional opportunity to create a global
coffee giant," said Tim Cofer, Keurig Dr Pepper's CEO.
In addition to Peet's, Amsterdam-based JDE Peet's brands include
L’OR, Jacobs, Douwe Egberts, Kenco, Pilao, OldTown, Super and
Moccona.
Once the two companies are separated, Cofer will become CEO of
the beverage business, which will be based in Frisco, Texas, and
Keurig Dr Pepper CFO Sudhanshu Priyadarshi will lead the coffee
business, which will be located in Burlington, Mass., with its
international headquarters in Amsterdam.
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