Nation & World

Keurig parent completes deal with Dr Pepper

Move builds seventh-largest U.S. food and beverage business

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
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

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.

Give us feedback

We value your trust and work hard to provide fair, accurate coverage. If you have found an error or omission in our reporting, tell us here.

Or if you have a story idea we should look into? Tell us here.

CONTINUE READING

Give us feedback

We value your trust and work hard to provide fair, accurate coverage. If you have found an error or omission in our reporting, tell us here.

Or if you have a story idea we should look into? Tell us here.