PLANO, Texas — Keurig is shopping for Dr. Pepper Snapple Group Inc., making a beverage large with about $11 billion in annual gross sales.
The businesses, each the results of earlier mergers, will convey beneath one tent international manufacturers like Dr Pepper, 7UP, Snapple, A&W, Mott’s, Sunkist and Keurig’s single-serve espresso makers.
Keurig Inexperienced Mountain Inc. stated Monday that Dr. Pepper Snapple shareholders will obtain $103.75 per share in a particular money dividend and preserve 13 p.c of the mixed firm.
Shares of Dr. Pepper Snapple soared greater than 36 p.c earlier than the opening bell Monday. Keurig CEO Bob Gamgort will lead the brand new firm, known as Keurig Dr. Pepper.
The deal is anticipated to shut within the second quarter. It nonetheless wants approval from Dr. Pepper Snapple shareholders.