Keurig Dr Pepper to Buy JDE Peet’s for $18 Billion in Revamp (4)

Keurig Dr Pepper Inc. agreed to buy JDE Peet’s NV for €15.7 billion ($18.4 billion) to bolster its struggling coffee business before kicking off a split of its operations.

The company will pay €31.85 a share in cash for the Dutch firm, a 20% premium over its closing price on Aug. 22, according to a statement Monday. Keurig Dr Pepper plans to separate its coffee and soft drinks units into two independent, US-listed companies next year once the deal is completed.

“We are seizing an exceptional opportunity to create a global coffee giant,” Chief Executive Officer Tim Cofer said.

The ...