Tag: mergers and acquisitions

Keurig Dr Pepper Reports 97.75% of JDE Peet’s Shares Tendered

Posted on by Qahwa World

Keurig Dr Pepper says post-closing acceptance period lifts its holding to 97.75% of shares, paving the way for buy-out proceedings and delisting from Euronext Amsterdam.

BURLINGTON, Mass., FRISCO, Texas and AMSTERDAM – Qahwa World

Keurig Dr Pepper Inc. (“KDP”) (NASDAQ: KDP) and JDE Peet’s N.V. (“JDE Peet’s”) (EURONEXT: JDEP) jointly announced that the post-closing acceptance period relating to the Offer (the “Post-Closing Acceptance Period”) expired today at 17:40 CEST.

During the Post-Closing Acceptance Period, 7,821,867 shares were tendered under the Offer, representing approximately 1.61% of the shares and an aggregate value of approximately €249,126,463.95. Together with the 466,712,270 shares that were already acquired by the Offeror, the Offeror will hold a total of 474,534,137 shares, representing approximately 97.75% of the shares and an aggregate value of approximately €15,113,912,263.45.

With reference to the Offer Memorandum, shareholders who accepted the Offer during the Post-Closing Acceptance Period will receive the Offer Price for each tendered share transferred for acceptance pursuant to the Offer during the Post-Closing Acceptance Period, under the terms and conditions of the Offer and subject to its restrictions. Settlement of the shares tendered during the Post-Closing Acceptance Period will occur, and payment of the Offer Price for each such share will be made, on April 15, 2026. The Offeror cannot guarantee that shareholders who tendered their shares for acceptance will receive payment on this date.

As a result of the acquisition of more than 95% of the shares by the Offeror, the Offeror will initiate statutory buy-out proceedings in accordance with Section 5.13.2 (Buy-Out Proceedings) of the Offer Memorandum and will implement the post-closing demerger in accordance with Section 5.13.4 (Post-Closing Demerger) of the Offer Memorandum. As previously announced, it has been decided, in consultation with Euronext, that the last day of trading of the shares will be April 29, 2026, and that the shares will be delisted from Euronext Amsterdam on April 30, 2026.

Announcements

Any announcements contemplated by the Offer Memorandum will be made by press release. Any press release issued by the Offeror will be made available on KDP’s website. Any press release issued by JDE Peet’s will be made available on JDE Peet’s website.

Offer Memorandum; Position Statement

Digital copies of the Offer Memorandum are available on the websites of JDE Peet’s and KDP. Digital copies of the Position Statement are available on JDE Peet’s website. Copies of the Offer Memorandum will be made available, upon request, free of charge at the offices of JDE Peet’s. The websites of JDE Peet’s and KDP do not constitute a part of, and are not incorporated by reference into, the Offer Memorandum and the Position Statement.

Notice to shareholders of JDE Peet’s in the United States

The tender offer is being made for the ordinary shares of JDE Peet’s, a public limited liability company incorporated under the laws of the Netherlands with shares listed on Euronext Amsterdam. US shareholders should note that the tender and related documents are subject to Dutch disclosure and procedural requirements, which differ from those of the United States.

JDE Peet’s shares are not listed on a US securities exchange and the company is not subject to the reporting requirements of the US Securities Exchange Act of 1934, and does not file reports with the US Securities and Exchange Commission (SEC).

The tender offer is being made in the United States in compliance with, and in reliance on, the exemption provided by Rule 14d-1(d), known as the “Tier II” exemption, under the Exchange Act and otherwise in accordance with Dutch law.

Receipt of cash pursuant to the tender offer by a US holder of JDE Peet’s shares will be a taxable transaction under US federal income tax law and applicable state, local and foreign tax laws. Each holder is advised to consult an independent professional adviser regarding the tax consequences.

It may be difficult for US holders to enforce their rights under US securities laws, as JDE Peet’s is located outside the United States and some or all of its officers and directors may reside outside the United States.

To the extent permissible under applicable law, JDE Peet’s and its affiliates or brokers may purchase shares outside the tender offer in the open market or through private transactions at prevailing or negotiated prices. Such purchases will not exceed the tender offer price. No purchases will be made in the United States on behalf of KDP.

Neither the SEC nor any US state securities commission has approved or disapproved the tender offer or passed upon its merits. Any representation to the contrary is a criminal offence in the United States.

Restrictions

The distribution of this press release may be restricted in certain jurisdictions. Persons who receive this document should inform themselves of and observe any such restrictions. Failure to comply may constitute a violation of applicable securities laws. Neither KDP nor JDE Peet’s assumes responsibility for any such violations.

This announcement is for information purposes only and does not constitute an offer or invitation to acquire or dispose of any securities or investment advice.

Forward-looking statements

This press release contains forward-looking statements relating to the impact of the transaction, future financial performance, cost savings and synergies. These statements are subject to risks and uncertainties that could cause actual results to differ materially.

Neither KDP nor JDE Peet’s undertakes any obligation to update forward-looking statements except as required by law.

Keurig Dr Pepper Launches €31.85-Per-Share Offer for JDE Peet’s

Posted on by Qahwa World

Dubai —Qahwa World

Keurig Dr Pepper Inc. has launched a recommended public cash offer to acquire all outstanding shares of Dutch coffee company JDE Peet’s N.V., valuing the company at €31.85 per share in cash.

The offer is being made through Kodiak BidCo B.V. and follows regulatory approval of the offer memorandum by the Dutch Authority for the Financial Markets. JDE Peet’s shareholders will also receive a previously announced €0.36 cash dividend per share on January 23, 2026, which will not affect the offer price.

The boards of both companies said the transaction remains on the same terms announced in August 2025 and is expected to close in early second quarter of 2026, subject to remaining conditions.

  • Board Support and Shareholder Commitments

JDE Peet’s board of directors has unanimously recommended the offer. Acorn Holdings B.V. and all members of JDE Peet’s board—together representing approximately 69% of the company’s outstanding shares—have irrevocably committed to tender their shares.

The offer period will run from January 16 to March 27, 2026, unless extended.

Keurig Dr Pepper has set a minimum acceptance threshold of 95% of JDE Peet’s shares. This threshold may be reduced to 80% if shareholders approve certain post-closing restructuring measures at an extraordinary general meeting scheduled for March 2, 2026.

  • Post-Closing Structure

If Keurig Dr Pepper secures at least 95% of the shares, it intends to initiate statutory buy-out proceedings and may proceed with a post-closing demerger. If acceptance reaches between 80% and 95%, the company plans to complete a post-closing merger to obtain full ownership of JDE Peet’s.

All required competition clearances for the transaction have already been obtained, and both the Dutch Works Council and European Works Council have been consulted in line with regulatory requirements.

  • Strategic Rationale

Following the acquisition, Keurig Dr Pepper plans to separate into two independent, U.S.-listed publicly traded companies. One would focus on North America’s non-alcoholic refreshment beverages market, while the other would operate as a global pure-play coffee business serving more than 100 countries.

JDE Peet’s is the world’s largest pure-play coffee company, selling approximately 4,400 cups of coffee per second globally. In 2024, the company reported sales of €8.8 billion.

Keurig Dr Pepper, which reported annual revenue of more than $15 billion, owns brands including Dr Pepper, Keurig, Canada Dry, Snapple and Green Mountain Coffee Roasters.

Starbucks Sells 60% Stake in China Business for $4 Billion

Posted on by Qahwa World

Dubai – Qahwa World

Starbucks has reached a major agreement to sell a 60 percent controlling stake in its China operations to Hong Kong-based private-equity firm Boyu Capital for $4 billion. The partnership marks one of the largest foreign coffee-sector transactions in Asia, positioning both companies to accelerate Starbucks’ expansion in the world’s biggest branded coffee market.

China remains Starbucks’ most strategic growth region outside the United States. The company currently operates around 8,000 stores nationwide and aims to scale that number to 20,000 in the coming years. Boyu’s local experience and financial backing are expected to support Starbucks’ next phase of growth, particularly in lower-tier Chinese cities where coffee culture is rapidly expanding.

Under the deal, Starbucks will keep its Shanghai headquarters and retain 40 percent ownership of the new joint venture. It will continue to license its brand and intellectual property while maintaining control over store design, training standards, and product development.

Brian Niccol, Chairman and CEO of Starbucks, said the collaboration would strengthen the company’s presence in China:

“Boyu’s deep understanding of Chinese consumers and regional markets will help us reach new communities while staying true to our values of exceptional partner experience and world-class customer service.”

Founded in 2011, Boyu Capital manages investments across Hong Kong, mainland China, and Singapore. Its portfolio exceeds 200 companies, including leading Chinese names such as Mixue Ice Cream and Alibaba Group—one of Starbucks’ delivery partners in China.

Alex Wong, Partner at Boyu Capital, described the partnership as “a shared belief in the strength of the Starbucks brand and a commitment to local innovation and customer connection.”

Starbucks’ decision follows months of speculation since late 2024 about a potential sale of its China division. The move comes as the company continues to recover from pandemic-era declines, reporting four consecutive quarters of growth in 2025. In its fiscal fourth quarter ending September 28, 2025, Starbucks recorded $831.6 million in China sales, a 6 percent increase year on year.

With this new alliance, Starbucks seeks to reinforce its market leadership amid mounting competition from domestic rivals such as Luckin Coffee and Cotti Coffee—companies that have gained ground with value-driven strategies and aggressive store rollouts.

Cropster Acquires South Korean Coffee Tech Company

Posted on by Qahwa World

Dubai – Qahwa World

Austria-based Cropster, a leading developer of smart software solutions for the coffee industry, has announced the acquisition of Firescope, a South Korean technology company specializing in coffee roasting software. The move marks a key step in Cropster’s expansion strategy across Asia and its broader plan to strengthen its position in global coffee technology.

Firescope, founded in 2020 in Seoul, provides cloud-based roasting software used by more than 3,000 independent coffee roasters in South Korea and Japan. The acquisition will enable Cropster to expand its footprint in East Asia’s rapidly growing specialty coffee market. The financial terms of the deal were not disclosed.

Founded in 2008 by Andreas Idl, Norbert Niederhauser, and Martin Wiesinger, Cropster creates digital tools that improve efficiency, consistency, and traceability across the entire coffee value chain — from green coffee trading and roasting to retail operations and cafés.

In 2024, Cropster sold a majority stake to the Oslo-based investment firm Verdane, providing the company with a strong financial foundation to pursue mergers and acquisitions aimed at building an integrated digital ecosystem for the coffee industry.

Under the new agreement, Firescope will continue operating as a standalone platform until the second half of 2026, after which it will be integrated into Cropster’s ecosystem. This integration will allow Firescope’s services to reach new markets beyond East Asia for the first time.

Cropster also plans to use Firescope’s Seoul headquarters as its new regional hub for sales and technical support in Asia, further strengthening its presence in the region.

“Asia plays a central role in the growth of the global specialty coffee sector, and this acquisition positions Cropster as a leader in providing comprehensive digital solutions across the region,” said Ralph Karg, Director at Verdane.

Andreas Idl, Co-Founder and CEO of Cropster, emphasized that this acquisition is the beginning of a larger strategy:

“Our vision is to digitalize the entire coffee journey — from cultivation and production to roasting, distribution, and cafés. Firescope represents a key part of this vision, and we plan to pursue additional acquisitions to achieve our ‘crop-to-cup’ mission.”

Today, Cropster works with thousands of coffee companies in more than 100 countries, including well-known specialty coffee brands such as Blue Bottle Coffee, WatchHouse, Five Elephant, Verve Coffee Roasters, and Bunista. Firescope’s clients include HOWW Coffee, Your Home Coffee Roasters, Koffee Sniffer, and Indigo Coffee Roasters.

With this acquisition, Cropster reinforces its role as a global leader in coffee technology, advancing its goal of creating a connected, data-driven ecosystem that supports innovation across the entire coffee supply chain.

Keurig Dr Pepper Shares Plunge to Multi-Year Low After JDE Peet’s Deal

Posted on by Qahwa World

New York – Qahwa World

Keurig Dr Pepper (NASDAQ: KDP) fell 3.6% in Monday trading, hitting a multi-year low of $26.09, after BNP Paribas downgraded the stock to Underperform. The drop reflects mounting skepticism over the company’s ambitious $18.4 billion acquisition of JDE Peet’s and its plan to split into two separate businesses.

BNP Paribas analyst Kevin Gundy said the deal was “one of the worst-received transactions in the consumer sector we have ever seen,” adding that management now faces the difficult task of convincing a shareholder base that has grown impatient. The firm cut its price target to $24, citing deal risk, global coffee demand elasticity, and what it called a “credibility setback.”

Deal Overview

The transaction, valued at €15.7 billion (~US$18.4B), offers JDE Peet’s shareholders a 33% premium to the 90-day average price. Once completed, KDP will split into:

Global Coffee Co. – about $16B annual sales, the world’s largest pure-play coffee company, including brands Keurig, Jacobs, and Peet’s Coffee.

Beverage Co. – more than $11B annual sales, covering Dr Pepper, Canada Dry, and 7UP.

The combined entity will remain under KDP’s current leadership, led by CEO Tim Cofer and CFO Sudhanshu Priyadarshi.

Why Investors Are Concerned

Debt Burden: Financing the deal relies heavily on debt, with leverage projected to rise into the high-5× EBITDA range. Moody’s has already placed KDP under review for downgrade.

Execution Risks: Integrating JDE Peet’s operations while simultaneously splitting into two companies creates unprecedented complexity.

Market Reaction: JDE Peet’s stock jumped on the premium offer, but KDP has lost about 25% since the August announcement.

Demand Uncertainty: Rising coffee costs and consumer shifts may pressure single-serve coffee demand, a core KDP segment.

KDP’s Strategic Bet

Despite the skepticism, management highlights:

Global scale and reach across North America, Europe, and Asia.

Synergies worth about $400M over three years.

Sharper focus for each business post-split.

Market Impact & Outlook

The stock market, for now, is focused more on the risks than the promises. KDP’s bold gamble could reshape the global coffee and beverage industry, but investors are demanding proof that the strategy can deliver.

Update on Intended Recommended Public Offer by Keurig Dr Pepper for JDE Peet’s

Posted on by Qahwa World

Burlington (Mass.), Frisco (Texas) & Amsterdam – 19 September 2025 – Qahwa World – Keurig Dr Pepper (KDP) and JDE Peet’s have issued a joint update on the intended recommended public offer by KDP for all issued and outstanding ordinary shares of JDE Peet’s. The all-cash offer, first announced on 25 August 2025, values each share at €31.85, alongside a previously declared dividend of €0.36 per share to be paid prior to closing.

The companies confirmed that preparations for the offer are progressing as planned. A request for review and approval of the Offer Memorandum will be filed with the Dutch Authority for the Financial Markets (AFM) no later than 16 November 2025.

Subject to regulatory approvals and customary conditions, both parties continue to expect the transaction to close in the first half of 2026. Once completed, the deal will significantly reshape the global coffee landscape by uniting KDP’s North American strength with JDE Peet’s worldwide portfolio of brands, including Peet’s, L’OR, Jacobs, Douwe Egberts and Moccona.

The €18.2bn acquisition also aligns with JDE Peet’s “Reignite the Amazing” strategy, focused on simplifying its portfolio, strengthening leading brands, and delivering efficiency savings of €500m ($590m).

The tender offer will be made under Dutch law and will also comply with U.S. securities regulations via the Tier II exemption. U.S. shareholders are advised that the process will follow Dutch disclosure and procedural requirements, which differ from U.S. tender offer rules.

KDP, a leading North American beverage company with revenues exceeding $15bn, is known for its broad portfolio of over 125 owned, licensed and partner brands, including Green Mountain Coffee Roasters and Dr Pepper. JDE Peet’s, the world’s largest pure-play coffee company, serves approximately 4,400 cups of coffee per second across more than 100 markets worldwide.

Both companies stressed that the transaction remains subject to market, legal and regulatory risks, but reaffirmed their confidence in completing the offer within the projected timeline.