Keurig Dr Pepper agreed to acquire Amsterdam-based JDE Peet's for about $18 billion, with the deal expected to close in the first half of 2026. After the acquisition, KDP will split into two U.S.-listed companies; Sudhanshu Priyadarshi will lead the coffee company and Tim Cofer will lead the beverage company overseeing brands including Dr Pepper, 7 Up, and Snapple. The separation is expected to be completed by the end of next year. Priyadarshi joined KDP as CFO in November 2022, was given responsibility for the $2 billion international business within a year, and brings prior roles at PepsiCo, Cipla, Walmart, and Vista Outdoor plus board experience at Wabash National. KDP's board highlighted his CPG foundation and M&A experience as key qualifications.
In less than three years, Sudhanshu Priyadarshi, CFO of Keurig Dr Pepper (KDP), was tapped for a chief executive role. KDP announced on Monday an agreement to acquire Amsterdam-based coffee-seller JDE Peet's for about $18 billion. The deal is expected to close in the first half of 2026. Afterward, KDP ( No. 284 on the Fortune 500) will split into two U.S.-listed companies: Priyadarshi will lead the coffee business, and current KDP CEO Tim Cofer will head the beverage business, with brands such as Dr Pepper, 7 Up, and Snapple. The separation is expected to be completed by the end of next year.
"Sudhanshu has been a true partner of mine over the past two years," Cofer said on a call with investors Monday morning. He described him as an "ambitious strategic thinker, a financially-minded operator, and an inspiring people leader." Priyadarshi said in a LinkedIn post Monday that it's an honor to be named the future CEO of the global coffee company. Priyadarshi spent 14 years at PepsiCo in finance and strategy, including as CFO for Global R&D & Nutrition.
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