Wikipedia

Keurig Dr Pepper

Keurig Dr Pepper, Inc. (/ˈkjʊərɪɡ/ KURE-ig) is a publicly traded American beverage company headquartered in Burlington, Massachusetts, and Frisco, Texas. It was formed on July 9, 2018, through the merger of Keurig Green Mountain and Dr Pepper Snapple Group.[3] The company produces and distributes a range of hot and cold beverages, including brands such as Keurig, Dr Pepper, Snapple, Canada Dry, and others. Prior to the merger, Keurig Green Mountain, formerly known as Green Mountain Coffee Roasters, operated as a specialty coffee company and manufacturer of the Keurig single-serve brewing system, while Dr Pepper Snapple Group managed a portfolio of soft drinks and other beverages.

Keurig Dr Pepper, Inc.
Company type
Public
ISINUS49271VAP58
Industry
PredecessorKeurig Green Mountain
Dr Pepper Snapple Group
Founded2018; 8 years ago (2018)
HeadquartersBurlington, Massachusetts, U.S.
Frisco, Texas, U.S.
Key people
RevenueIncrease US$16.603 billion (2025)[2]
Number of employees
30,600 (2025) [2]
SubsidiariesKeurig Dr Pepper Canada, Inc.
Grupo Peñafiel
Websitekeurigdrpepper.com

Since April 2024, Tim Cofer has served as the CEO of Keurig Dr Pepper.[4]

History

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Background

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Green Mountain Coffee Roasters, founded in 1979 in Vermont as a specialty coffee roaster, expanded nationwide in the late 20th and early 21st centuries.[5][6][7] It acquired Keurig, Inc. in 2006 and changed its name to Keurig Green Mountain in 2014.[8][9] Dr Pepper Snapple Group was established in 2008 after its separation from Cadbury Schweppes, taking ownership of brands including Dr Pepper, Snapple, and 7 Up in the United States.[10] Both companies operated independently until 2018.

Formation (2018-2020)

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In July 2018, Keurig Green Mountain acquired Dr Pepper Snapple Group in a transaction valued at $18.7 billion.[11] Dr Pepper Snapple Group was the legal successor, remained publicly traded, and was renamed Keurig Dr Pepper.[12] The merger created one of the largest beverage company in North America.[13][14] On July 10, shares in Keurig Dr Pepper (KDP) began trading on the New York Stock Exchange.[15]

In 2018, KDP acquired regional carbonated‑soft‑drink brand Big Red and premium water brand CORE Hydration.[16][17] The same year, KDP entered a long‑term distribution agreement with Danone to distribute a natural‑spring water brand in the United States.[18]

In early 2019, Keurig Dr Pepper announced the relocations of its Texas headquarters from Plano to a new 350,000-square-foot office in The Star in Frisco, Texas.[19] In September of that year, McDonald's USA and KDP announced a long-term agreement the licensing and distribution of McCafé packaged coffee in the United States.[20]

In July 2020, KDP and Polar Beverages entered into a long-term agreement for the nationwide distribution of Polar Seltzer sparkling water products in the United States through KDP’s manufacturing and direct store delivery (DSD) network. The agreement built on an existing relationship in which Polar had served as a distributor and manufacturer for KDP in the Northeastern United States.[21] The company then transferred its stock exchange listing to the NASDAQ.[22] Later that year, KDP expanded its DSD network by obtaining distribution rights in New York and New Jersey through an agreement with The Honickman Companies and by acquiring additional territories in East Texas and Northern Louisiana.[23][24]

2021-2024

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In 2021, KDP relocated its beverage research and development laboratory to Frisco, Texas, near its corporate headquarters.[25]

In June 2022, the company entered into a definitive agreement to acquire global rights to Atypique, a Canadian non-alcoholic ready-to-drink cocktail brand offering beverages such as margaritas, gin and tonics, and mojitos.[26] That same month, KDP added Intelligentsia Coffee to its partner portfolio, introducing the brand in K-Cup pod format for the first time.[27]

In November 2022, Keurig Dr Pepper made a US$50 million minority investment in Athletic Brewing Company, a U.S.-based producer of non-alcoholic craft beer.[28] In December 2022, the company invested approximately US$863 million to acquire a 30% stake in Nutrabolt, the manufacturer of C4 Energy. The transaction included a long-term distribution agreement granting KDP rights to distribute C4 in most of its company-owned DSD territories.[29]

In July 2023, the company acquired a 33% stake in La Colombe Coffee Roasters for US$300 million. The investment was accompanied by a long-term sales and distribution agreement for La Colombe's ready-to-drink coffee beverages, along with a licensing arrangement for K-Cup pods in the United States and Canada.[30]

In October 2023, Keurig Dr Pepper signed a long-term distribution agreement with Grupo PiSA to distribute Electrolit, a Mexican sports drink brand, across most of KDP’s company-owned DSD territories in the United States.[31] Distribution began in early 2024. Electrolit entered the U.S. market in 2014 and has become one of the highest-selling brands in the sports hydration category, which was valued at approximately US$11 billion.[31]

In March 2024, KDP announced the development of a line of compostable, plastic- and aluminum-free pods, intended as an alternative to its conventional single-serve products.[32] In May 2024, KDP and its green coffee sourcing division, Keurig Trading, opened a sourcing and logistics office in Varginha, Brazil, a major coffee-producing region.[33]

Between May and June 2024, the company acquired the production, sales, and distribution operations of Kalil Bottling Co., an independent bottler based in Arizona. This marked the company’s first wholly owned DSD operation in the state.[34] In mid-2024, Dr Pepper surpassed Pepsi to become the second most sold soda brand in the United States, based on retail sales data, trailing only Coca-Cola.[35]

In September 2024, Keurig Dr Pepper entered into a long-term sales and distribution agreement with Black Rifle Coffee Company to launch Black Rifle Energy, a new line of zero-sugar ready-to-drink energy beverages. This expanded upon the companies’ existing collaboration on K-Cup pods.[36]

In October 2024, Keurig Dr Pepper agreed to acquire a 60% stake in Ghost, sports nutrition and energy drink company, for approximately US$990 million. The agreement includes an option to acquire the remaining 40% by 2028.[37] Ghost continues to operate under its existing leadership within KDP's U.S. Refreshment Beverages segment. KDP committed up to US$250 million to support integration into its distribution network.[37] During the same period, the company entered a distribution agreement with Nutrabolt for Bloom, a ready-to-drink sparkling energy beverage.[38]

Acquisition of JDE Peet's and de-merger (2025-present)

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In August 2025, KDP announced that it was acquiring JDE Peet's for €15.7 billion (≈$18 billion) and that it would combine Peet's with its existing coffee division and spin them into a new corporate entity. As part of the plan, the company stated it intends to separate into two U.S.-listed companies, one focused on coffee and one on refreshment beverages, following completion of the acquisition.[39][40] In October 2025, KDP struck a deal with private-equity companies KKR and Apollo Global Management, along with Goldman Sachs to secure $7 billion in funding to support the acquisition and the planned separation of its coffee and beverage businesses into two public companies.[41]

In January 2026, KDP formally launched its all-cash takeover offer for JDE Peet’s at €31.85 per share after obtaining competition clearances. JDE Peet’s board supported the offer, and shareholders holding 69% of the company’s shares had committed to accept it.[42] The following month, the company secured an additional $1.5 billion in equity funding for the deal. KDP also announced that it was targeting the separation of the combined business into Global Coffee Co and Beverage Co by the end of 2026.[43]

In April 2026, as part of its planned post-acquisition separation, Keurig Dr Pepper named JDE Peet’s chief executive Rafael Oliveira to lead its coffee operating unit and the future Global Coffee Co, while Tim Cofer was set to lead Beverage Co.[44]

Operations

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U.S. Refreshment Beverages

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This segment includes the manufacturing, marketing, and distribution of liquid refreshment beverages in the United States. KDP produces beverage concentrates and syrups for its owned brands, which are either distributed to third-party bottlers or processed at company-owned facilities to produce finished beverages. Products are distributed through both direct store delivery and warehouse delivery systems to retail outlets.

Key brands in this segment include Dr Pepper, 7UP, A&W, Canada Dry, Snapple, Mott’s, Clamato, CORE Hydration, Squirt and Sunkist.[45][46][47] Additional brands in this segment include Deja Blue, Bai, and Peñafiel.[48][49]

KDP also manufactures and distributes beverages for partner brands, including the Ghost and C4 energy drinks and the Electrolit hydration drink.[50][37] It also sells and distributes La Colombe ready-to-drink coffee through its DSD network.[46]

U.S. Coffee

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Keurig Dr Pepper operates in the U.S. coffee market through its Keurig single-serve brewing systems and a broad range of K-Cup pods.[51][52] The company owns or licenses brands such as Green Mountain Coffee Roasters, The Original Donut Shop, and McCafé.[45] It also manufactures K-Cup pods for partner brands including Starbucks, Dunkin’, Folgers, Peet’s, Celestial Seasonings, Bigelow, and Swiss Miss. In addition to single-serve pods, KDP offers traditional coffee products in whole bean, ground, and ready-to-drink formats.[51]

International

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KDP’s international operations are concentrated in Canada and Mexico.[31] The company manufactures and distributes branded concentrates, syrups, and finished beverages under both owned and partner brands to bottlers, distributors, and retailers.[51][52] Key brands in these markets include Dr Pepper, Canada Dry, Mott’s, Clamato, and Peñafiel.[45][48] In Canada, KDP also sells finished goods for single-serve brewers, K-Cup pods, and other coffee products through retail and direct-to-consumer channels.[53]

Governance

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Robert Gamgort was the first CEO of Keurig Dr Pepper.[54][55] In April 2024, Tim Cofer succeeded him as CEO, while Gamgort became executive chairman.[56] In April 2025, Gamgort transitioned to the role of chairman.[57]

Controversies

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In 2019, a consumer class-action lawsuit challenged Canada Dry Ginger Ale’s “Made From Real Ginger” labeling as misleading; under the settlement, Keurig Dr Pepper agreed to stop using the phrase on products sold in the United States.[58][59]

In 2024, the U.S. Securities and Exchange Commission charged Keurig Dr Pepper with making inaccurate statements in its 2019 and 2020 annual reports about the recyclability of K-Cup pods. Without admitting or denying the SEC’s findings, the company agreed to a cease-and-desist order and a $1.5 million civil penalty.[60][61]

Brands

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See also

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References

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  1. ↑ "Keurig Dr Pepper rises as cold drinks drives earnings beat". Fortune. April 23, 2026. Retrieved May 6, 2025.
  2. 1 2 "FORM 10-K". December 31, 2025. Retrieved May 6, 2026.
  3. ↑ de la Merced, Michael (January 29, 2018). "Keurig Green Mountain Plans to Buy Dr Pepper Snapple". The New York Times. Archived from the original on August 25, 2018.
  4. ↑ Chesto, Jon (August 5, 2024). "Michelle Knight steps up at RWA Wealth Partners". The Boston Globe.
  5. ↑ Goska, David (January 20, 1980). "Fragrance Fills the Air in Waitsfield". The Burlington Free Press. p. 34. Retrieved May 5, 2026.
  6. ↑ Ingram, Frederick C. (2000). Grant, Tina (ed.). International Directory of Company Histories. Vol. 31. Detroit, Michigan: St. James Press. pp. 227–230. Archived from the original on May 14, 2016.
  7. ↑ Carpenter, Murray (March 13, 2014). Caffeinated: How Our Daily Habit Helps, Hurts, and Hooks Us. Penguin. pp. 47–56. ISBN 978-0-698-14850-5.
  8. ↑ "Green Mountain Coffee's purchase of Keurig Inc. completed". Boston Business Journal. June 16, 2006. Archived from the original on January 23, 2013. Retrieved May 5, 2026.
  9. ↑ "New Green Mountain name shows Keurig connection". USA TODAY. March 10, 2014. Archived from the original on December 25, 2024. Retrieved May 5, 2026.
  10. ↑ Carolan, Michael (March 11, 2008). "Cadbury Schweppes to Complete Demerger of U.S. Unit on May 7". Wall Street Journal. ISSN 0099-9660. Retrieved May 5, 2026.
  11. ↑ Wolfson, Lisa; Pfanner, Eric; Kaplan, Jennifer (January 29, 2018). "Keurig to Take Control of Dr Pepper in $18.7 Billion Deal". Bloomberg.com. Archived from the original on November 3, 2018. Retrieved May 5, 2026.
  12. ↑ "SCHEDULE 14A". www.sec.gov. Retrieved May 5, 2026.
  13. ↑ "Keurig Dr Pepper Completes Merger between Keurig Green Mountain and Dr Pepper Snapple Group - BevNET.com". BevNET.com. July 11, 2018. Archived from the original on August 28, 2018. Retrieved July 13, 2018.
  14. ↑ "Keurig to Take Control of Dr Pepper in $18.7 Billion Deal". Bloomberg.com. Archived from the original on November 3, 2018. Retrieved July 13, 2018.
  15. ↑ "Keurig Dr Pepper Announces Successful Completion of the Merger between Keurig Green Mountain and Dr Pepper Snapple Group". Archived from the original on March 27, 2019. Retrieved July 13, 2018.
  16. ↑ Hirsch, Lauren (July 13, 2018). "Keurig Dr Pepper's first week post-merger brings a defection, an acquisition and new volleys in coffee wars". CNBC. Archived from the original on January 4, 2019. Retrieved May 5, 2026.
  17. ↑ Thakker, Krishna (September 27, 2018). "Keurig Dr Pepper to buy premium water brand CORE Nutrition for $525M | Food Dive". www.fooddive.com. Archived from the original on September 27, 2018. Retrieved May 5, 2026.
  18. ↑ Dering, Christopher (November 8, 2018). "Keurig Dr Pepper sales surge as soda growth offsets slowdown in coffee | Food Dive". www.fooddive.com. Archived from the original on November 8, 2018. Retrieved May 5, 2026.
  19. ↑ "Keurig Dr Pepper To Relocate Texas Headquarters From Plano To The Star In Frisco - CBS Texas". www.cbsnews.com. February 21, 2019. Retrieved May 5, 2026.
  20. ↑ Byrington, Lilliana (September 26, 2019). "McCafé packaged coffee to be distributed by Keurig Dr Pepper | Food Dive". www.fooddive.com. Archived from the original on September 27, 2019. Retrieved May 5, 2026.
  21. ↑ Chesto, Jon (July 20, 2020). "Polar Beverages goes nationwide in blockbuster deal with Keurig Dr Pepper - The Boston Globe". BostonGlobe.com. Archived from the original on July 9, 2023. Retrieved May 5, 2026.
  22. ↑ "Snapple maker Keurig Dr Pepper to switch to Nasdaq". Reuters. September 8, 2020. Archived from the original on January 20, 2023. Retrieved September 15, 2020.
  23. ↑ "KDP, The Honickman Companies reach agreement on sales, distribution | 2020-10-28 | Beverage Industry". www.bevindustry.com. October 28, 2020. Archived from the original on November 11, 2020. Retrieved May 5, 2026.
  24. ↑ "Keurig Dr Pepper boosts DSD network in Texas, Louisiana with 2 acquisitions". Vending Times. November 24, 2020. Archived from the original on December 4, 2025. Retrieved May 5, 2026.
  25. ↑ Addison, Brandi (April 29, 2021). "Relocations and expansion: 14 companies that fueled Frisco's economy in 2020". Dallas News. Retrieved May 5, 2026.
  26. ↑ Gelski, Jeff (June 24, 2022). "Keurig Dr Pepper to acquire non-alcoholic cocktail brand | Food Business News". www.foodbusinessnews.net. Archived from the original on June 24, 2022. Retrieved May 5, 2026.
  27. ↑ Bernabe, Danielle (September 16, 2022). "Why Intelligentsia Coffee and its board decided to go K-cup". Fortune. Archived from the original on September 16, 2022. Retrieved May 5, 2026.
  28. ↑ Doering, Christopher (November 9, 2022). "Keurig Dr Pepper invests $50M in Athletic Brewing | Food Dive". www.fooddive.com. Archived from the original on November 9, 2022. Retrieved May 5, 2026.
  29. ↑ Daniells, Stephen (December 9, 2022). "'Win-win': Keurig Dr Pepper and Nutrabolt announce strategic partnership". NutraIngredients.com. Retrieved May 5, 2026.
  30. ↑ Doering, Christopher (July 20, 2023). "Keurig Dr Pepper pays $300M for 33% stake in La Colombe, strikes licensing deal | Food Dive". www.fooddive.com. Archived from the original on July 21, 2023. Retrieved May 5, 2026.
  31. 1 2 3 Arthur, Rachel (October 26, 2023). "Keurig Dr Pepper enters sports hydration category with Electrolit distribution agreement". BeverageDaily.com. Retrieved May 5, 2026.
  32. ↑ Rachal, Maria (March 14, 2024). "Keurig brewing up compostable K-Rounds as alternative to plastic coffee pods | Packaging Dive". www.packagingdive.com. Archived from the original on March 30, 2024. Retrieved May 5, 2026.
  33. ↑ "Keurig Dr Pepper and Keurig Trading open new coffee sourcing office in Brazil". World Coffee Portal. May 24, 2024. Retrieved May 5, 2026.
  34. ↑ Reynolds, Conor (June 3, 2024). "Keurig Dr Pepper buys US distributor Kalil Bottling". Just Drinks. Retrieved May 5, 2026.
  35. ↑ Wiener-Bronner, Danielle (June 3, 2024). "Dr Pepper just passed Pepsi as the second biggest soda brand | CNN Business". CNN. Retrieved May 5, 2026.
  36. ↑ Doering, Christopher (September 6, 2024). "Keurig Dr Pepper inks sales and distribution deal for Black Rifle Energy Drinks | Food Dive". www.fooddive.com. Retrieved May 5, 2026.
  37. 1 2 3 Thomas, Lauren (October 24, 2024). "Keurig Dr Pepper to Buy Energy-Drink Maker Ghost for Over $1 Billion". WSJ. Retrieved May 5, 2026.
  38. ↑ Nunes, Keith (October 25, 2024). "KDP taking portfolio approach to energy category | Food Business News". www.foodbusinessnews.net. Archived from the original on November 10, 2024. Retrieved May 5, 2026.
  39. ↑ Hirsch, Lauren; Creswell, Julie (August 25, 2025). "Keurig Dr Pepper to Acquire Peet's in $18 Billion Deal". The New York Times. Retrieved August 25, 2025.
  40. ↑ Rabiega, Mateusz; Tabassum, Juveria (August 25, 2025). "Dr Pepper takes a shot at Nestlé with $18 bln takeover of Dutch coffee giant". Reuters. Retrieved December 4, 2025.
  41. ↑ Cooper, Laura (October 27, 2025). "Keurig Dr Pepper Turns to Private Capital to Back $18 Billion Deal". The Wall Street Journal. Retrieved October 29, 2025.
  42. ↑ "Keurig Dr Pepper launches $18 billion takeover bid for JDE Peet's". Reuters. January 15, 2026. Retrieved May 5, 2026.
  43. ↑ "Keurig Dr Pepper secures additional $1.5 billion funding JDE Peet's buyout". Reuters. February 24, 2026. Retrieved May 5, 2026.
  44. ↑ "Keurig names JDE Peet's CEO Oliveira as coffee unit chief amid $18 billion takeover". Reuters. April 1, 2026. Retrieved May 5, 2026.
  45. 1 2 3 "Keurig Dr Pepper Inc. (KDP) Company Profile & Facts - Yahoo Finance". Yahoo Finance. Archived from the original on February 10, 2025. Retrieved May 6, 2026.
  46. 1 2 Dominguez, Liz (June 3, 2024). "Keurig Dr Pepper Expands DSD Operations With Kalil Bottling Acquisition". Consumer Goods Technology. Archived from the original on December 9, 2024. Retrieved May 6, 2026.
  47. ↑ Geller, Martinne; Cavale, Siddharth (January 29, 2018). "Coffee meets 7UP in Keurig, Dr Pepper Snapple deal". Reuters. Retrieved May 6, 2026.
  48. 1 2 Shoup, Mary Ellen (September 27, 2018). "Keurig Dr. Pepper makes premium water play with CORE acquisition". Food Navigator USA. William Reed Ltd. Archived from the original on October 4, 2022. Retrieved November 21, 2022.
  49. ↑ Hufford, Austen (November 22, 2016). "Dr Pepper Snapple to Acquire Bai Beverages for $1.7 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved May 6, 2026.
  50. ↑ Durbin, Dee-Ann (August 25, 2025). "Dr Pepper will unwind its merger with Keurig 7 years ago after buying Peet's for $18 billion". AP News. Archived from the original on August 25, 2025. Retrieved May 6, 2026.
  51. 1 2 3 "KEURIG GREEN MOUNTAIN, INC. 2014 Annual Report Form (10-K)". United States Securities and Exchange Commission. November 19, 2014. Archived from the original on April 9, 2016. Retrieved September 2, 2017.
  52. 1 2 "Keurig Green Mountain Inc (GMCR.O) Company Profile | Reuters.com". Reuters. Archived from the original on September 25, 2015. Retrieved May 6, 2026.
  53. ↑ "Green Mountain Coffee's purchase of Keurig Inc. completed". Boston Business Journal. June 16, 2006. Archived from the original on January 23, 2013. Retrieved May 6, 2026.
  54. ↑ Julie Jargon. "Green Mountain Names Coke's Brian Kelley as New CEO" Archived November 29, 2017, at the Wayback Machine. Wall Street Journal. November 20, 2012.
  55. ↑ Beilfuss, Lisa. "Keurig Green Mountain Snags Pinnacle Food’s CEO" Archived July 23, 2021, at the Wayback Machine. Wall Street Journal. March 23, 2016.
  56. ↑ "Executive Q&A: Keurig Dr Pepper CEO Tim Cofer, Executive Chairman Bob Gamgort". Beverage Digest. May 8, 2024. Retrieved September 8, 2024.
  57. ↑ McColl, Bill (April 24, 2025). "Keurig Dr Pepper Soft Drink Sales Take Off, But Coffee Costs Limit Gains". Yahoo Finance. Archived from the original on April 25, 2025. Retrieved May 6, 2026.
  58. ↑ Steinberg, Julie (January 8, 2019). "Canada Dry to Stop Claiming It Has Real Ginger". Bloomberg Law. Archived from the original on August 18, 2025. Retrieved May 6, 2026.
  59. ↑ Gill, Oliver (January 9, 2019). "Consumers win payouts after Canada Dry drops claim it's made from 'real ginger'". The Telegraph. Archived from the original on October 28, 2023. Retrieved May 6, 2026.
  60. ↑ Prentice, Chris; Heavey, Susan (September 10, 2024). "US SEC hits Keurig with $1.5 mln fine over pod recyclability statements". Reuters. Archived from the original on March 30, 2026. Retrieved May 6, 2026.
  61. ↑ "SEC Charges Keurig with Making Inaccurate Statements Regarding Recyclability of K-Cup Beverage Pod". www.sec.gov. September 10, 2024. Retrieved May 6, 2026.
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