Dr Pepper soda cans for sale are pictured at a grocery store in Pasadena, California, U.S., February 14, 2018. REUTERS
Jan 15 (Reuters) – Keurig Dr Pepper and Dutch vehicle Kodiak BidCo launched on Thursday an all-cash takeover bid for coffee and tea group JDE Peet’s, which they expect to complete early in the second quarter.
The offer price is 31.85 euros per share, the companies said in a statement. Shares of JDE Peet’s closed at 31.88 euros on Wednesday, implying a market capitalisation of 15.56 billion euros ($18.10 billion), according to LSEG data.
The companies said they had obtained all competition clearances for the deal, and that the board of JDE Peet’s fully supported the takeover and unanimously recommended shareholders accept it. They added investors holding a combined stake of about 69% had irrevocably committed to the offer.
Keurig had announced the acquisition for about $18 billion in August 2025, along with plans to split the merged entity’s coffee operations and other beverage businesses, including Dr Pepper sodas, into two publicly traded companies.
($1 = 0.8596 euros)
Reporting by Alessandro Parodi in Gdansk, editing by Tomasz Janowski and Milla Nissi-Prussak
