Keurig Dr Pepper announced it has acquired a 96.22% stake in JDE Peet’s, marking a major step in its strategic transformation and setting the stage for the creation of a standalone global coffee business.
The transaction combines Keurig Dr Pepper’s existing coffee platform with JDE Peet’s international portfolio, bringing together brands, capabilities, and distribution across multiple markets. The company said the integration will focus on operational alignment, synergy capture, and long-term growth.
As part of the deal, Keurig Dr Pepper plans to eventually separate into two independent publicly traded companies: a North America-focused beverage company and a global coffee company. The coffee business will be led by Rafael Oliveira, who will serve as CEO of the future Global Coffee Co. while continuing in his 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.
The company expects to complete operational readiness for the separation by the end of 2026, subject to market conditions and other key milestones.
Following the acquisition, Keurig Dr Pepper now holds 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.
KEY QUOTES:
“Our acquisition of JDE Peet’s marks a defining step in our value creation strategy, and Rafa is the right choice to lead the combined coffee business and launch Global Coffee Co. 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. 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.”
Pam Patsley, Board Chair, Keurig Dr Pepper
“With this complementary combination, we are uniting outstanding talent, systems, and brand portfolios under a shared vision for global leadership in coffee. Having launched a brand-led strategy at JDE Peet’s that is already delivering tangible results, Rafa is uniquely positioned to set the direction for Global Coffee Co. Together, these moves are critical milestones on our path to launch winning companies in both coffee and refreshment beverages that will create shareholder value and shape their categories.”
Tim Cofer, Chief Executive Officer, Keurig Dr Pepper
“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. As I’ve gotten to know the Board, Tim, and the KDP leadership team, it has only strengthened my belief in the bold vision for the new company. I’m honored and excited to work with our teams around the world as we serve consumers with the coffee experiences they love.”
Rafael Oliveira, CEO, JDE Peet’s and Incoming CEO, Global Coffee Co.
