The Texas-based Dr. Pepper Snapple Group has been purchased by Keurig Green Mountain.
Keurig, the Massachusetts-based coffee machine company, announced that it had inked a deal to purchase Dr. Pepper Snapple Group. According to the New York Times, the $18.7 billion deal will allow Keurig's parent investment company, JAB Holding, to expand its drink empire from coffee to soft drinks.
JAB's acquisition of Dr. Pepper is not the first in its food empire. The group has also recently inked deals to acquire Peet's (owner of Panera Bread) and Krispy Kreme. The Times reported that under the deal, Kuerig investors will own 87 percent of Dr. Pepper, while Dr Pepper Snapple investors will own the rest of the company.
Dr. Pepper Snapple is headquartered out of Plano and is the owner of several soft drink brands including: A&W Root Beer, Big Red, Diet Riet, RC Cola and Yoo-Hoo.
The deal is expected to be finalized in June.
