Paul Weiss-advised Keurig Dr Pepper has agreed a €15.7 billion takeover of JDE Peet’s, the owner of Douwe Egberts, L’OR and Kenco, which is advised by A&O Shearman.
Post-merger, the business will be split into two US-listed companies: a coffee giant and a soft drinks group.
Paul Weiss and A&O Shearman are advising on US drinks giant Keurig Dr Pepper’s €15.7 billion all-cash takeover of Amsterdam-listed Dutch coffee group JDE Peet’s, in what is understood to be the biggest European acquisition in more than two years.
Merge and split
On completion - expected in the first half of 2026 - KDP plans to split the newly-combined business into two US-listed entities, which are currently unnamed.
The new coffee company will combine Keurig’s existing coffee business in North America with JDE Peet’s global portfolio of brands - including Douwe Egberts, L’OR, Kenco and Peet’s. KDP says the unit will be the world’s largest standalone coffee company, with around $16 billion in annual sales.
The soft drinks business will consist of KDP’s soft drinks brands, which include Dr Pepper, 7UP and Schweppes, with roughly $11 billion in sales.
Advising
Paul Weiss is acting for Keurig Dr Pepper, led by New York partners James Langston and Chelsea Darnell alongside a large cross-office team spanning New York, Los Angeles and London which includes debt finance partner Neel Sachdev.
Dutch firm Stibbe is advising Keurig Dr Pepper on Dutch law.
A&O Shearman is advising JDE Peet’s, led by Amsterdam corporate partners Tim Stevens and Olivier Valk.
The team also includes Amsterdam co-head of corporate Joyce Leemrijse, finance partners Niels de Ru and Michael Chernick, employment partner Arnold Keizer and capital markets partners Jonathan Heeringa and Harald Halbhuber.
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