Keurig Dr Pepper completes acquisition of 96.22% stake in JDE Peet’s
Keurig Dr Pepper has acquired a majority stake in JDE Peet’s, paving the way for a standalone global coffee business and future corporate separation.
USA – Keurig Dr Pepper Inc. has completed the acquisition of a 96.22% stake in JDE Peet’s, marking a significant milestone in its strategic transformation and paving the way for the creation of a standalone global coffee business.
The transaction brings together Keurig Dr Pepper’s existing coffee platform with JDE Peet’s international portfolio, combining brands, operational capabilities, and distribution networks across multiple markets.
The company said integration efforts will focus on operational alignment, synergy capture, and long-term growth.
As part of the strategy, Keurig Dr Pepper plans to separate into two independent publicly traded companies: a North America-focused beverage business and a dedicated global coffee company.
The future coffee entity will be led by Rafael Oliveira, who will serve as Chief Executive Officer while continuing in his current role as CEO of JDE Peet’s during the transition. Oliveira will also join Keurig Dr Pepper’s executive leadership team, reporting to CEO Tim Cofer.
Pam Patsley, Board Chair of Keurig Dr Pepper, said the appointment followed a comprehensive selection process.
“Our Board conducted a robust and rigorous process that considered a range of internal and external candidates, and we are confident Rafa will be an exceptional leader for this new company. With proven leadership across complex global markets and a commitment to driving financial results, he has set a course for growth at JDE Peet’s,” she said.
Following the acquisition, Keurig Dr Pepper now controls more than 95% of JDE Peet’s shares and plans to delist the company from Euronext Amsterdam, with trading expected to end on April 29, 2026.
The combined coffee business is expected to operate across multiple segments, channels, and price points globally, leveraging JDE Peet’s presence in more than 100 markets and Keurig’s leadership in single-serve coffee systems in North America.
“With a singular focus on coffee, the newly integrated coffee business will be poised to create value and growth opportunities for employees, partners, customers, and shareholders,” Patsley added.
Keurig Dr Pepper expects to complete operational readiness for the planned separation by the end of 2026, subject to market conditions and key milestones.
In its fourth quarter, the company reported a 10.5% increase in net sales to US$4.5 billion. The U.S. Refreshment Beverages segment rose 11.5% to US$2.7 billion, while the U.S. Coffee segment grew 3.9% to US$1.2 billion. The International segment recorded the highest growth, increasing 21% to US$604 million.
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