Keurig Dr Pepper completes acquisition of JDE Peet’s and appoints CEO

Keurig Dr Pepper has acquired 96.22% of the shares in JDE Peet’s following its takeover bid. The next step will be to split the merged company into an American soft drink producer and a global coffee giant, for which a CEO has already been appointed.

“The right choice”

Today, both companies are formally finalizing the acquisition. As previously announced, the merged company will split again into two separate, publicly traded companies: on the one hand, a global coffee division comprising Keurig, Jacobs, Douwe Egberts, L’OR, and Peet’s, accounting for annual revenue of approximately fourteen billion euros and operations in more than one hundred countries; and on the other, a U.S. soft drink group with brands such as 7 Up, Canada Dry, Dr Pepper, and Schweppes. This is expected to take place by the end of this year. JDE Peet’s shares will be delisted from Euronext Amsterdam at the end of this month.

In the press release, Keurig Dr Pepper also announced that the board of directors has appointed Rafael Oliveira, the CEO of JDE Peet’s, as CEO of the coffee operations and of the future Global Coffee Co. following the planned spin-off. “Rafa is the right choice to lead the combined coffee operations and launch Global Coffee Co.,” said Pam Patsley, chair of the KDP board of directors. Oliveira has served as CEO of JDE Peet’s since November 2024. Prior to that, he worked at The Kraft Heinz Company for 10 years.