U.S. beverage company Keurig Dr Pepper is set to acquire Dutch coffee producer JDE Peet’s in an $18 billion transaction, marking one of Europe’s largest acquisitions in more than two years. The deal values JDE Peet’s at a 20% premium to its recent closing price and will result in the delisting of the Dutch firm from the Amsterdam stock exchange.
The combined business will be split into two U.S.-listed companies. Global Coffee Co will focus on coffee, targeting $16 billion in annual net sales, while Beverage Co will concentrate on North American soft drinks, with projected annual net sales exceeding $11 billion. Analysts estimate the coffee unit will hold around 20% of the global consumer packaged goods coffee market. The merger aims to generate $400 million in annual cost savings and provide broader exposure in Europe, North America, and emerging markets.
JDE Peet’s, which owns brands including Jacobs, L’Or, Tassimo, and Douwe Egberts, is majority held by JAB Holding, which will tender its 68% stake and retain approximately 5% in both new entities. The acquisition is expected to complete in the first half of 2026, with the corporate split finalised by the end of the year. Following the announcement, JDE Peet’s shares rose 17.5%, while Keurig Dr Pepper shares fell roughly 7%.
The transaction comes amid record global coffee prices influenced by droughts in Brazil and Vietnam, and tariffs affecting trade between the U.S. and key coffee-producing nations. The merger positions Keurig Dr Pepper to expand international coffee operations while maintaining a strong North American beverage presence.