Keurig Dr Pepper Is Splitting in Two After a Mega Acquisition—You Won’t Believe What’s Coming!

Keurig Dr Pepper (KDP) has jolted the global beverage industry with a bold two-step maneuver that may reshape its corporate DNA. In a surprise announcement, KDP revealed plans to acquire global coffee giant JDE Peet’s for an enterprise value of $23 billion, followed by a spin-off to create two stand-alone public companies—Global Coffee Co. and Beverage Co. The all-cash acquisition is priced at a 20% premium to JDE Peet’s market price and values the target at approximately 13x 2026 EV/EBITDA pre-synergies or 10.5x post-synergies. KDP aims to finalize the acquisition by the first half of 2026 and pursue a tax-free spin-off of the coffee business soon thereafter. With this move, KDP intends to consolidate its North American Keurig empire with JDE Peet’s global footprint to form a coffee pure-play leader. But beyond ambition, execution will be critical. Here are four key synergy drivers that could define the outcome of this caffeine-powered megadeal.