Keurig Dr Pepper has completed its acquisition of JDE Peet’s while naming JDE Peet’s CEO Rafael Oliveira to lead the combined coffee business and eventually helm the planned spinoff company, Global Coffee Co.
KDP announced today that it has acquired 96.22% of JDE Peet’s shares through its tender offer, formally closing a deal first announced last August and valued at approximately $18 billion.
Oliveira, who became JDE Peet’s CEO in November 2024, will continue in that role while also joining KDP’s executive leadership team and reporting to KDP CEO Tim Cofer during an integration period, according to the company.
Rafael Oliveira. JDE Peet’s 2024 press photo.
The appointment resolves a months-long leadership question. In the original August 2025 deal announcement, KDP said Sudhanshu Priyadarshi would become CEO of Global Coffee Co. after the separation, but the company reversed that plan at its October investor day without naming a replacement.
Before JDE Peet’s, Oliveira spent a decade at The Kraft Heinz Company, including as executive vice president and president of international markets, and a decade prior to that at Goldman Sachs in the UK and Hong Kong.
“Global Coffee Co. will aim to be the best coffee company in the world by combining global reach with local expertise to operate across all formats, segments, channels and price points,” he said in the announcement.
KDP’s plan is to separate into two independent, U.S.-listed companies — a refreshment beverage company under Cofer and Global Coffee Co. under Oliveira.
The coffee entity would combine KDP’s Keurig single-serve platform with JDE Peet’s international portfolio, which includes Jacobs, Douwe Egberts, L’OR, Peet’s Coffee, Stumptown Coffee Roasters and Intelligentsia Coffee, among more than 50 brands sold in more than 100 markets. JDE Peet’s reported total sales of €9.9 billion (approximately $11.49 billion) in 2025.
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