Keurig Dr Pepper Completes Merger Of Hot And Cold Beverage Giants

Posted On: 7/12/2018

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BURLINGTON, MA -- Keurig Dr Pepper has completed the merger between Keurig Green Mountain and Dr Pepper Snapple Group. The transaction creates the seventh-largest company in the U.S. food and beverage sector and third-largest beverage company in North America, with annual revenues of approximately $11 billion.

"The combination of these two great companies creates the scale, portfolio and selling and distribution capabilities to compete differently in the beverage industry," said Keurig Dr Pepper chief executive Bob Gamgort. "With a large stable of iconic brands and the leading single-serve coffee brewing system on the market, KDP has the ability to satisfy any beverage need or consumption occasion -- hot or cold, at work or at play, at home or on the go -- and the capability to get our brands to consumers virtually anytime and anywhere they purchase beverages."

Shares in Keurig Dr Pepper began trading on the New York Stock Exchange on July 10 under the ticker symbol KDP.

As previously announced, under the terms of the merger agreement, Dr Pepper Snapple shareholders received a cash dividend of $103.75 per share on July 10 to shareholders of record on the July 6 record date.

KDP will maintain dual headquarters in Burlington, MA, and Plano, TX, where Keurig Green Mountain and Dr Pepper Snapple Group are respectively located.