fox news - Dr Pepper owner to merge with coffee firm in £5bn takeover
Dr Pepper’s owner is to merge with coffee company Keurig Green Mountain to form a beverages juggernaut.The £14.9billion deal will bring big brands owned by US-based Dr Pepper Snapple, which also include 7up, Orangina, Schweppes and Sunkist, under the same roof as Green Mountain Coffee.Keurig will pay $103.75 per share in a special dividend to Dr Pepper shareholders, who will also retain 13 per cent of the new company, which will be called Keurig Dr Pepper.It is the latest acquisition by JAB Holding, which owns Keurig and is itself controlled by Germany’s secretive Reimann family.Bob Gamgort, chief executive of Keurig, said: ‘We have a really wide portfolio of brands.‘We’re able to address almost every consumer need in every format and to reach every point of sale,’ he said.Dr Pepper’s shares surged after the deal was announced yesterday. The drinks company was split from Cadbury Schweppes a decade ago.Bosses said they expected the merged business to make £427million of cost savings and expand into selling coffee in bottles and in vending machines.JAB Holding has been on a buying spree recently, taking Coffee Roasters private in 2016 after absorbing part of Mondelez’s international coffee business just a year previously.It also bought restaurant chains Krispy Kreme and Panera Bread.Mondelez International, a major Keurig shareholder, will own about 13 per cent of the Keurig Dr Pepper business.
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