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Keurig parent completes deal with Dr Pepper
Dr Pepper Snapple Group, the nation's third-largest soft drink maker, is now officially part of the Keurig family.
The new company, Keurig Dr Pepper, said Monday it had completed the merger of Keurig Green Mountain and Dr Pepper Snapple Group.
The transaction creates the seventh-largest U.S. food and beverage company with annual revenue of about $11 billion.
The company began trading Tuesday on the New York Stock Exchange under the ticker symbol KDP and will maintain dual headquarters in Burlington, Mass., and Plano, Texas.
The company previously was part of Cadbury Schweppes.
In Dr Pepper, Keurig gains a beverage maker with a substantial distribution network. Dr Pepper gains more access to the at-home market.
FILE PHOTO: A single-serve Keurig Green Mountain brewing machine is seen before dispensing coffee in New York February 6, 2015. REUTERS/Shannon Stapleton/File Photo
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