Keurig Dr Pepper has completed the acquisition of JDE Peet’s and named Rafael Oliveira as CEO of its coffee operating unit.
Keurig Dr Pepper struck a deal to acquire the Dutch coffee business for €15.7bn (£13.7m) in August. At the time it announced it would split the combined business into two units, called Beverage Co and Global Coffee Co.
In a statement yesterday (1 April), Keurig Dr Pepper revealed it had acquired 96.22% of JDE Peet’s shares. The transaction marked “a major milestone in the company’s strategic transformation and long‑term growth agenda”, it said in a statement.
Following the completion of the deal, Keurig Dr Pepper has appointed Oliveira – previously CEO at JDE Peet’s – to head up Global Coffee Co. Meanwhile, Keurig Dr Pepper CEO Tim Cofer is set to lead Beverage Co.
After an interim period, Keurig Dr Pepper plans to separate into two independent, US-listed publicly traded companies. JDE Peet’s shares will cease trading in Amsterdam on 29 April before the company is delisted on 30 April.
Meanwhile, Oliveira will continue as executive director and CEO at JDE Peet’s, a position he has held since November 2024.
Prior to joining the coffee giant, he spent 10 years at The Kraft Heinz Company, and a decade before that at Goldman Sachs in the UK.
“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.” said Keurig Dr Pepper chair Pam Patsley. “Our board conducted a robust and rigorous process that considered a range of internal and external candidates, and we are confident Rafa will be an exceptional leader for this new company.
“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.”
Oliviera added: “This is an incredible opportunity to create the future of coffee. 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.”
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