Keurig Dr Pepper has raised about $6 billion through a dual-currency bond sale as it prepares to complete its planned acquisition of global coffee and tea company JDE Peet’s.
The beverage company, through a subsidiary, issued €3 billion (around $3.5 billion) in euro-denominated bonds and $2.55 billion in U.S. dollar bonds. The bonds have maturities ranging from two to nine years. The euro issuance marks Keurig Dr Pepper’s first bond sale in the European market.
The fundraising is part of the financing for Keurig Dr Pepper’s planned acquisition of Netherlands-based JDE Peet’s in a deal valued at around $18 billion. The transaction is one of the largest deals in the global coffee sector in recent years and represents a major expansion of the company’s presence in the coffee industry.
JDE Peet’s is one of the world’s largest pure-play coffee companies, with a portfolio of brands that includes Peet’s Coffee, Douwe Egberts, Jacobs, L’OR and Tassimo. The company sells coffee and tea products in more than 100 markets through retail, cafés and foodservice channels.
Keurig Dr Pepper plans to finance the acquisition through a mix of long-term debt, equity funding and the assumption of some of JDE Peet’s existing bonds. The transaction is expected to close in April 2026, subject to regulatory approvals and customary conditions.
Following the completion of the deal, Keurig Dr Pepper plans to separate its business into two publicly listed companies. One will focus on beverages, primarily in North America, while the other will concentrate on coffee operations with a global footprint.
The acquisition would significantly strengthen Keurig Dr Pepper’s position in the global coffee market and combine its beverage platform with JDE Peet’s large international coffee portfolio.
