Keurig Dr Pepper Completes $18 Billion Acquisition of JDE Peet’s

Cleary Gottlieb advised Keurig Dr Pepper (KDP) on the global antitrust aspects of its $18 billion acquisition of JDE Peet’s, the world’s leading pure-play coffee and tea company.

The deal closed on April 1, 2026.

This exciting deal creates a global coffee champion through the complementary combination of KDP’s Keurig with JDE Peet’s worldwide portfolio of beloved coffee brands. After an interim operating period, KDP plans to separate into two independent, U.S.-listed publicly traded companies, creating a consumer-obsessed leader in North America’s attractive refreshment beverages market (Beverage Co.) and a global coffee powerhouse (Global Coffee Co.).

The Cleary team included partners Leah Brannon, Ken Reinker, Alan Freedman, Cunzhen Huang, and Chase Kaniecki; senior attorney Wanjie Lin; and associates Everett Coraor, Brittany Day, Andrew Schaengold, Benjamin Stievater, Ana Carolina Maloney, and Teresa Spolidoro.