Keurig Dr Pepper has accomplished its acquisition of JDE Peet’s whereas naming JDE Peet’s CEO Rafael Oliveira to guide the mixed espresso enterprise and ultimately helm the deliberate spinoff firm, International Espresso Co.
KDP introduced right this moment that it has acquired 96.22% of JDE Peet’s shares by its tender provide, formally closing a deal first introduced final August and valued at roughly $18 billion.
Oliveira, who turned JDE Peet’s CEO in November 2024, will proceed in that position whereas additionally becoming a member of KDP’s government management staff and reporting to KDP CEO Tim Cofer throughout an integration interval, in response to the corporate.
Rafael Oliveira. JDE Peet’s 2024 press picture.
The appointment resolves a months-long management query. Within the authentic August 2025 deal announcement, KDP stated Sudhanshu Priyadarshi would develop into CEO of International Espresso Co. after the separation, however the firm reversed that plan at its October investor day with out naming a alternative.
Earlier than JDE Peet’s, Oliveira spent a decade at The Kraft Heinz Firm, together with as government vp and president of worldwide markets, and a decade previous to that at Goldman Sachs within the UK and Hong Kong.
“International Espresso Co. will goal to be one of the best espresso firm on the planet by combining international attain with native experience to function throughout all codecs, segments, channels and value factors,” he stated within the announcement.
KDP’s plan is to separate into two impartial, U.S.-listed firms — a refreshment beverage firm below Cofer and International Espresso Co. below Oliveira.
The espresso entity would mix KDP’s Keurig single-serve platform with JDE Peet’s worldwide portfolio, which incorporates Jacobs, Douwe Egberts, L’OR, Peet’s Espresso, Stumptown Espresso Roasters and Intelligentsia Espresso, amongst greater than 50 manufacturers offered in additional than 100 markets. JDE Peet’s reported whole gross sales of €9.9 billion (roughly $11.49 billion) in 2025.
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