Keurig Dr. Pepper (KDP) and JDE Peete’s jointly announced that KDP has acquired 96.22% of the shares of JDE Peet’s, marking a major milestone in the company’s plans for strategic transformation and long‑term growth.

In August, we reported that KDP plans to separate into two independent, U.S.-listed publicly traded companies, creating a North American leader in the refreshment beverages market as Frisco-based Beverage Co. and as Global Coffee Co., based in Burlington, Massachusetts, with international headquarters in Amsterdam, the Netherlands. 

With the acquisition, KDP said it’s bringing together world‑class brands, deep category expertise, and complementary capabilities in coffee across JDE Peet’s and KDP’s Keurig business. Plans for integration focus on operational excellence, synergy capture, leadership alignment and disciplined execution to ensure a seamless transition for customers, consumers and employees.

Leadership outlook

KDP also announced that its board of directors has named Rafael Oliveira as CEO of its coffee operating unit and of the future Global Coffee Co. following the planned separation. During the integration period, Oliveira will join KDP’s executive leadership team, reporting to KDP CEO Tim Cofer. Cofer will serve as CEO of the future Beverage Co. upon separation.

“Our acquisition of JDE Peet’s marks a defining step in our value creation strategy, and Rafa is the right choice to lead the combined coffee business and launch Global Coffee Co.” KDP Board Chair Pam Patsley said.

“Our board conducted a robust and rigorous process that considered a range of internal and external candidates, and we’re confident Rafa will be an exceptional leader for this new company,” she added in a statement. “With proven leadership across complex global markets and a commitment to driving financial results, he has set a course for growth at JDE Peet’s.”

Patsley added that with a singular focus on coffee, “the newly integrated coffee business will be poised to create value and growth opportunities for employees, partners, customers, and shareholders.”

Cofer also praised Oliveira’s leadership and formation of the two new companies.

“With this complementary combination, we are uniting outstanding talent, systems, and brand portfolios under a shared vision for global leadership in coffee,” said Cofer.  “Having launched a brand-led strategy at JDE Peet’s that is already delivering tangible results, Rafa is uniquely positioned to set the direction for Global Coffee Co. Together, these moves are critical milestones on our path to launch winning companies in both coffee and refreshment beverages that will create shareholder value and shape their categories.”

Oliveira will continue as executive director and CEO at JDE Peet’s, where he has served since November 2024. Prior to JDE Peet’s, he spent 10 years at The Kraft Heinz Company, where he advanced growth, innovation and sustainability initiatives, while serving in various executive roles, including Executive Vice President and President of International Markets. Previously, he spent 10 years at Goldman Sachs Group in the United Kingdom and Hong Kong after starting his career in Brazil at Banco Icatu and Banco BBA-Creditanstalt.

“This is an incredible opportunity to create the future of coffee,” said Oliveira. “Global Coffee Co. will aim to be the best coffee company in the world by combining global reach with local expertise to operate across all formats, segments, channels and price points.”

“As I’ve gotten to know the board, Tim, and the KDP leadership team, it has only strengthened my belief in the bold vision for the new company,” he added. “I’m honored and excited to work with our teams around the world as we serve consumers with the coffee experiences they love.”

Don’t miss what’s next. Subscribe to Dallas Innovates.

Track Dallas-Fort Worth’s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.