Business
Keurig Dr Pepper Announces Updated Financing Plan for JDE Peet's Acquisition
Keurig Dr Pepper Inc. (NASDAQ: KDP; "the Company") today announced updated financing plans and transaction timelines for the acquisition of JDE Peet's and subsequent planned separation into two independent companies ("Beverage Co." and "Global Coffee Co." pending the announcement of official corporate names).
About this update from Keurig Dr Pepper Inc.
[{"type":"text","content":"Company strengthens balance sheet by further reducing projected leverage and attracts additional high-quality investors","length":120,"tagName":"p","attribs":{}},{"type":"text","content":"BURLINGTON, Mass. and FRISCO, Texas, Feb. 23, 2026 /PRNewswire/ -- Keurig Dr Pepper Inc. (NASDAQ: KDP; "the Company") today announced updated financing plans and transaction timelines for the acquisition of JDE Peet's and subsequent planned separation into two independent companies ("Beverage Co." and "Global Coffee Co." pending the announcement of official corporate names).","length":411,"tagName":"p"},{"type":"text","content":"Key developments include:","length":25,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"A targeted close of the JDE Peet's acquisition in early April 2026, with expected combined net leverage of approximately 4.5x1","length":130,"tagName":"p"}]},{"val":[{"type":"text","content":"An agreement to upsize the previously announced Beverage Co. convertible preferred equity investment co-led by Apollo and KKR to $4.5 billion from $3 billion, with additional participation from high-quality, long-term oriented investors including accounts advised by T. Rowe Price Investment Management; as a result, the Company will no longer consider a partial IPO of Beverage Co.","length":382,"tagName":"p"}]},{"val":[{"type":"text","content":"Definitive agreements finalized for the Global Coffee Co. Pod Manufacturing JV first announced in October 2025","length":110,"tagName":"p"}]},{"val":[{"type":"text","content":"Long term debt to be issued by the future Global Coffee Co. to finance the remaining portion of the JDE Peet's transaction","length":126,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":748,"olType":false},{"type":"text","content":"Commenting on the announcements, Keurig Dr Pepper CFO Anthony DiSilvestro stated: "Today's update demonstrates our commitment to ensuring strong and resilient capital structures at each stage of this transaction by introducing an additional $1.5 billion of cost-efficient equity capital into the financing and bringing on board a high-quality mix of shareholders who recognize the value creation opportunity ahead. Our comprehensive financing solution, combined with strong cash generation, will drive rapid deleveraging, rei...