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Keurig Dr Pepper has acquired a 96.22% stake in JDE Peet’s, marking a transformative step in its strategy to build a scaled, global coffee platform while preparing to split its business into two standalone public companies.
The deal brings together KDP’s Keurig system and JDE Peet’s extensive international coffee portfolio, creating a combined platform with significant reach across formats, channels and price tiers. The companies said integration efforts are already underway, focusing on operational alignment, cost synergies and leadership structure.
Following an interim integration period, KDP plans to separate into a North America-focused beverage company, known as Beverage Co, and a global coffee-focused entity, Global Coffee Co.
The coffee business will combine JDE Peet’s brands, such as L'or, Peet’s and Jacobs, with KDP’s single-serve coffee ecosystem, positioning the new entity as a “global coffee powerhouse.”
The separation is expected to be completed via a tax-free spin-off, with operational readiness targeted by the end of 2026, subject to market conditions and financial milestones.
KDP has also appointed Rafael Oliveira as CEO of its coffee operating unit and future CEO of Global Coffee Co. Oliveira, who has led JDE Peet’s since November 2024, will join KDP’s executive leadership team during the transition.
KDP board chair Pam Patsley said: "Our acquisition of JDE Peet’s marks a defining step in our value creation strategy, and Rafael is the right choice to lead the combined coffee business and launch Global Coffee Co."
The acquisition underscores continued consolidation in the global coffee category, where scale, brand equity and multi-channel distribution are increasingly critical. By combining KDP’s North American strength with JDE Peet’s international footprint, the new coffee entity is expected to compete more directly with major global players across retail, out-of-home and e-commerce channels.
Patsley continued: “Our board conducted a robust and rigorous process that considered a range of internal and external candidates, and we are confident Rafael 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. 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.”
Current KDP CEO Tim Cofer is set to lead the future Beverage Co post-separation. Cofer said: “With this complementary combination, we are uniting outstanding talent, systems and brand portfolios under a shared vision for global leadership in coffee."
Oliviera added: “This is an incredible opportunity to create the future of coffee. Global Coffee Co will aim to be the best coffee company in the world by combining global reach with local expertise to operate across all formats, segments, channels and price points."
At the same time, the planned split reflects diverging growth dynamics between beverages and coffee. KDP is effectively creating two focused businesses, one centred on North American refreshment beverages and another dedicated to global coffee growth.
With KDP now holding more than 95% of JDE Peet’s shares, the company will proceed with delisting from Euronext Amsterdam. The final trading day is scheduled for Wednesday 29 April 2026, with delisting expected on Thursday 30 April.