Keurig Dr Pepper Inc. Announces Completion of Public Secondary Offering

Details

(KDP) announced the completion of a registered public secondary offering of 60 million shares of its common stock by JAB BevCo B.V., the selling stockholder. In connection with the offering, Morgan Stanley & Co. LLC exercised its option to purchase an additional 9 million shares, resulting in a total of 69 million shares sold. The gross proceeds from the offering amounted to approximately $2.3 billion, with the company not receiving any proceeds from the sale. The offering was conducted in accordance with an Underwriting Agreement dated October 28, 2024, which is filed as Exhibit 1.1 to the 8-K.

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About Keurig Dr Pepper Inc.

Keurig Dr Pepper Inc. is a leading beverage company that operates in the non-alcoholic beverage industry. Formed from the merger of Keurig Green Mountain and Dr Pepper Snapple Group, this company combines a diverse portfolio of hot and cold beverages. Keurig Dr Pepper offers a wide range of products, including carbonated soft drinks, ready-to-drink teas, juice drinks, mixers, and single-serve coffee systems. Brands under its umbrella include household names like Dr Pepper, Snapple, 7UP, and Keurig. With a unique hybrid business model, the company has a strong presence in both the beverage and home coffee brewer markets. It serves a vast market across North America through various distribution channels including retailers, vending machines, and online platforms. Keurig Dr Pepper's innovative product offerings and robust distribution network make it a significant player in the consumer goods sector, influencing beverage consumption trends and taste preferences.