Keurig Dr Pepper

Dr Pepper Snapple Group, Inc. (DPS) was incorporated in Delaware on October 24, 2007; in 2008, Cadbury contributed its U.S. beverage subsidiaries and other businesses to it.⁠[1]

DPS describes Dr Pepper, introduced in 1885, as the oldest major soft drink in the United States. Separated from Cadbury, DPS listed on the New York Stock Exchange under the symbol DPS on May 7, 2008; based in Plano, Texas, it had 2008 net sales of $5.7 billion.⁠[2]

On March 3, 2016, an investor group led by JAB Holding Company completed its acquisition of Keurig Green Mountain, Inc. for $92.00 per share in cash, and its stock ceased trading on Nasdaq before the market opened that day.⁠[3]

On January 29, 2018, DPS agreed to merge with Maple, Keurig’s parent; after closing, Maple’s stockholders owned about 87% of the combined company on a fully diluted basis and DPS’s stockholders about 13%.⁠[1]

On June 25, 2018, S&P Dow Jones IndicesS&P Dow Jones IndicesS&P Dow Jones Indices (S&P DJI) is a global index provider that compiles and licenses benchmark indices including the S&P 500 and the Dow Jones Industrial Average. It was formed in 2012 by combining McGraw-Hill’s S&P index business with the Dow Jones Indexes business held by a joint venture of CME Group and Dow Jones, and it is now the index business division of S&P Global, which holds about 73% of the interest.Open the full entry announced that Copart would replace DPS in the S&P 500S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry before the open on July 2, as DPS’s Investable Weight Factor was expected to fall well below the 50% threshold after the merger.⁠[4]

The merger closed on July 9, 2018, creating Keurig Dr Pepper under CEO Bob Gamgort; DPS shareholders received a $103.75 per share special dividend, KDP shares began trading on the NYSE on July 10, and the company kept dual headquarters in Burlington and Plano.⁠[5]

In September 2020, the company announced it would move its listing from the NYSE to Nasdaq, keeping its symbol. Bob Gamgort called it “an important milestone.”⁠[6]

Prior to market open on October 19, 2020, Keurig Dr Pepper replaced Western Digital in the Nasdaq-100 Index.⁠[7]

On June 3, 2022, it was announced that Keurig Dr Pepper would replace Under Armour in the S&P 500 before the open on June 21; its shares rose more than 6% after hours.⁠[8]

On April 26, 2024, under a succession plan, Bob Gamgort stepped down as CEO to become Executive Chairman, and Tim Cofer, Chief Operating Officer since November 2023, became CEO.⁠[9]

The U.S. Securities and Exchange Commission found that Keurig’s fiscal 2019 and 2020 annual reports said K-Cup pods “can be effectively recycled” without disclosing serious concerns raised by two large recyclers. Without admitting or denying the findings, Keurig agreed to a $1.5 million civil penalty.⁠[10]

In October 2024, JAB, which held 20.9%, sold 60 million Keurig Dr Pepper shares at $32.85 each in a secondary offering underwritten by Morgan StanleyMorgan StanleyMorgan Stanley is an American global financial services firm that grew from an investment banking partnership into a publicly traded financial group spanning investment banking, securities trading, wealth management, and investment management.Open the full entry.⁠[11]

On October 30, JAB BevCo B.V. sold another 9 million shares under the underwriter’s option, leaving it with 214,443,879 shares, about 15.8%.⁠[12]

On August 25, 2025, Keurig Dr Pepper announced a €31.85 per share cash deal for the Dutch coffee company JDE Peet’s, owner of Douwe Egberts, Kenco and Peet’s Coffee, worth about $18.4 billion, after which it would split into Beverage Co. and Global Coffee Co. Its shares fell 11.48% that day.⁠[13]

On October 27, 2025, the company announced a $7 billion preferred stock investment co-led by Apollo and KKRKKRKKR (Kohlberg Kravis Roberts) is an investment firm engaged in alternative asset management, capital markets services, and insurance. Jerome Kohlberg, Henry Kravis, and George Roberts co-founded the firm in 1976. Its managed funds invest in private equity, credit, and real assets, and its subsidiary Global Atlantic operates retirement, life insurance, and reinsurance businesses. KKR listed on the New York Stock Exchange in 2010 under the ticker KKR.Open the full entry to reduce net leverage after the acquisition. CFO Sudhanshu Priyadarshi would no longer become CEO of the planned coffee company.⁠[14]

In fiscal 2025 it had U.S. Refreshment Beverages, U.S. Coffee and International segments, brands including Dr Pepper, Snapple and Keurig, and approximately 30,600 employees.⁠[15]

Fiscal 2025 net sales rose 8.2% to $16.6 billion, and net income was $2,079 million, compared with $1,441 million in 2024.⁠[16]

On April 1, 2026, Keurig Dr Pepper completed its acquisition of 96.22% of JDE Peet’s and named JDE Peet’s CEO Rafael Oliveira as CEO of the future Global Coffee Co.; Tim Cofer was to lead Beverage Co. after the separation.⁠[17]

The company planned to split into two independent companies after an interim operating period, targeting readiness to separate by year-end 2026.⁠[18]

Both companies were planned to be U.S.-listed after the separation.⁠[19]

On June 23, 2026, the company announced that Rafa Oliveira would leave at the end of July and the board began a search for a Global Coffee Co. CEO; Chairman Pamela Patsley was to chair it after the separation, which was targeted for early 2027.⁠[20]

Second-quarter 2026 net sales rose 75.6% to $7.3 billion.⁠[21]

On October 1, 2026, the company named Kimberly-Clark President and COO Russ Torres as CEO of the future Global Coffee Co., joining on November 3. It expected Global Coffee Co. to have about $16 billion in annual revenue. As of the announcement, the separation had not been completed.⁠[22]