Keurig Dr Pepper acquires JDE Peet's for $18B, plans to split into two separate companies.

Keurig Dr Pepper is acquiring JDE Peet's for $18 billion, aiming to create a global coffee champion. Post-acquisition, Keurig Dr Pepper plans to split into two companies: one focusing on coffee and the other on beverages like Dr Pepper and 7Up. The coffee business will have $16 billion in annual sales, while the beverage business will have $11 billion. The deal, expected to close in early 2022, values JDE Peet's shares at a 33% premium.