Keurig Dr Pepper closes JDE Peet’s deal, names coffee CEO

Keurig Dr Pepper reportedly has acquired 96.22% of JDE Peet’s shares through its public cash offer, positioning the company to combine JDE Peet’s coffee portfolio with Keurig’s business and move toward a planned corporate separation. The company said it has begun detailed integration efforts toward that outcome.

Keurig Dr Pepper also announced that Rafael Oliveira, J.D. Peet’s chief executive officer, will service as CEO of its coffee operating unit and as in the same role for the planned Global Coffee Co. Oliveira will continue as JDE Peet’s CEO during the integration period and will join Keurig Dr Pepper’s executive leadership team, reporting to Keurig Dr Pepper CEO Tim Cofer. Cofer is expected to serve as chief executive officer of the future Beverage Co. after the separation.

Keurig Dr Pepper previously announced its plans to separate into two U.S.-listed, publicly traded companies: a North America refreshment beverages business and a global coffee business. The company said timing will depend on meeting certain targets, but they are positioning to separate by year-end 2026.