Keurig Dr Pepper buys Peet's for $18 billion and plans split into coffee and beverage companies

Source: AP

Updated 10:22 AM CDT, August 25, 2025

NEW YORK (AP) — Less than a decade after their merger, Keurig and Dr Pepper plan to become separate companies again.

Keurig Dr Pepper said Monday it is buying the owner of Peet’s Coffee in an $18 billion (15.7 billion euro) . Then it will break itself in two, with one company selling coffee and the other selling cold beverages like Snapple, Dr Pepper, 7UP and energy drinks.

The agreement unwinds the 2018 merger of Keurig and Dr. Pepper. Shares of Keurig Dr Pepper fell 7% in early trading Monday.

Keurig Dr Pepper CEO Timothy Cofer said the separate coffee and beverage businesses would be more nimble and better able to focus on growth opportunities in their own markets.

Read more: https://apnews.com/article/keurig-dr-pepper-peets-acquisition-coffee-904c356a8eb57a6b256b7f45a0f59d8d