Keurig Dr Pepper Turns to Paul Weiss to Lead $18.4B Deal for JDE Peet’s

Frisco-based Keurig Dr Pepper agreed to acquire Dutch coffee giant JDE Peet’s for about $18.4 billion cash, the company announced early Monday morning. KDP said it will pay $37.26 a share, which represents a 33 percent premium to JDE Peet’s 90-day average price.

Closing of the deal is expected in the first half of next year, which is when KDP plans to separate into two independent, publicly traded companies: the beverage company will stay in Frisco and be home to the company’s soda and beverage brands; and the coffee entity will combine the company’s single-serve K-Cups with JDE Peet’s more than 50 brands of coffee, tea and hot chocolate. The headquarters of the new coffee company will be in Burlington, Mass., with an international headquarters in Amsterdam.