Reported about 5 hours ago
Keurig Dr Pepper Inc. has raised $7 billion from Apollo Global Management and KKR to aid in its $18 billion acquisition of JDE Peet's NV, addressing investor concerns about increased debt. Despite skepticism from Wall Street regarding the deal, which expands the company's coffee exposure, Keurig's stock rose by 8% in premarket trading. The investment includes $4 billion for a coffee pod manufacturing joint venture and $3 billion in convertible preferred stock. The company is set to separate its beverage and coffee operations by the end of 2026 and has reported better-than-expected third-quarter earnings, boosting its sales outlook for 2025.
Source: YAHOO