Keurig Dr Pepper is acquiring JDE Peet's for $18.3 billion and plans to split into two independent companies: Global Coffee Co. and Beverage Co. The combined coffee portfolio will include Keurig machines, single-serve pods, and over 20 JDE Peet's brands such as Jacobs, Peet's Coffee, Maxwell House, Lavazza, Green Mountain, and McCafé. Global Coffee Co. aims to become a leading pure-play coffee company and is expected to generate $16 billion annually. The corporate split will create separate CEOs for each company and target distinct global coffee and refreshment beverage markets to drive revenue after recent profit declines.
Keurig Dr Pepper is acquiring JDE Peet's for a hefty $18.3 billion, with the intention of soon creating two separate companies, one establishing itself as a leader in the coffee market and the other in the refreshment beverage space. Just looking at the name of the company as it stands now, Keurig Dr Pepper, tells you that this company has a strong presence in two markets at once.
Tim Cofer, the CEO of Keurig Dr Pepper, stated in a press release, "Through the complementary combination of Keurig and JDE Peet's, we are seizing an exceptional opportunity to create a global coffee giant." Peet's Coffee, in particular, is known for its expertly roasted specialty coffee, something the newly established Global Coffee Co. is surely eager to add to its portfolio, as it chases the goal of becoming the top pure-play coffee company in the world.
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