Keurig Dr Pepper

This article is about the company. For the coffee brewing machine, see Keurig. For the soft drink, see Dr Pepper.
Keurig Dr Pepper Inc.
FormerlyGreen Mountain Coffee Roasters (1981–2014)
Keurig Green Mountain (2014–2018)
Company typePublic
ISINUS49271VAP58
Industry
PredecessorDr Pepper Snapple Group
Founded1981; 43 years ago (1981) (as Green Mountain Coffee Roasters)
Waitsfield, Vermont, U.S.[1]
FounderRobert Stiller[2]
HeadquartersBurlington, Massachusetts, U.S.
Frisco, Texas, U.S.
Key people
Brands
List
RevenueIncrease US$11.618 billion (2020)[4]
Owners
[5]
Number of employees
27,500 (2021)
Websitekeurigdrpepper.com

Keurig Dr Pepper Inc. (/ˈkjʊərɪɡ/), formerly Green Mountain Coffee Roasters (1981–2014) and Keurig Green Mountain (2014–2018), is a publicly traded American beverage and coffeemaker conglomerate with headquarters in Burlington, Massachusetts, and Frisco, Texas.[6] Formed in July 2018, with the merger of Keurig Green Mountain and Dr Pepper Snapple Group (formerly Dr. Pepper/7up Inc.), Keurig Dr Pepper offers over 125 hot and cold beverages. The company's Canadian business unit subsidiary operates as Keurig Dr Pepper Canada (formerly Canada Dry Motts).

The company's east-coast division manufactures Keurig brewing systems; sources, produces, and sells coffee, hot cocoa, teas, and other beverages under various brands for its Keurig machines; and sells coffee beans and ground coffee in bags and fractional packs. As of 2018, the newly merged conglomerate also sells sodas, juices, and other soft drinks via its Dr Pepper Snapple division based in Texas.

Green Mountain Coffee Roasters (GMCR) was established in 1981. After regional and national expansion in the late 1980s, and an IPO in 1993, the company completed its acquisition of the brewing-machine manufacturer Keurig, Inc. in 2006, enabling rapid growth through the high-margin sales of its many varieties of single-serve K-Cup pods. In March 2014, GMCR changed its name to Keurig Green Mountain.

A publicly traded company from 1993 through 2015, Keurig Green Mountain was acquired by a group of investors led by JAB Holding Company in March 2016 for $13.9 billion in cash.[7][8][9][10] Keurig Green Mountain became a privately held company for two years, and was an independent entity run by its pre-existing management team and a new CEO.[11][12][13]

On July 9, 2018, Keurig Green Mountain acquired the Dr Pepper Snapple Group in an $18.7-billion deal.[14] The combined company was renamed Keurig Dr Pepper, and traded publicly again on the New York Stock Exchange under the ticker "KDP" until 2020 when it switched to Nasdaq while retaining the same ticker. Shareholders of Dr Pepper Snapple Group own 13% of the combined company, with Keurig shareholder Mondelez International owning 13% to 14% of that fraction. JAB Holdings owns the remaining 73-74%.[15][16]

In 2021, Keurig Dr Pepper opened its second headquarters in Frisco, Texas.

Since April 2024, the CEO of Keurig Dr Pepper has been Tim Cofer.[3]

  1. ^ "Green Mountain Coffee Roasters - Fast Facts". Green Mountain Coffee Roasters. Archived from the original on March 18, 2012.
  2. ^ "Robert Stiller". Forbes. Archived from the original on February 19, 2023. Retrieved April 15, 2020.
  3. ^ a b "Leading with Vision: Tim Cofer Assumes CEO Role at KDP". KeurigDrPepper.com. April 26, 2024. Retrieved September 8, 2024.
  4. ^ "Keurig Dr Pepper Revenue 2010-2022 | KDP". MacroTrends. Archived from the original on January 22, 2023. Retrieved May 25, 2022.
  5. ^ "2022 proxy statement". Securities and Exchange commission. April 29, 2022. Archived from the original on December 8, 2022. Retrieved June 4, 2022.
  6. ^ "Keurig Dr Pepper Announces Successful Completion of the Merger between Keurig Green Mountain and Dr Pepper Snapple Group | Keurig Green Mountain Inc". news.keuriggreenmountain.com. Archived from the original on November 19, 2018. Retrieved September 26, 2019.
  7. ^ Egan, Matt. "Keurig Green Mountain bought for $13.9 billion by firm that owns Peet's Coffee" Archived July 21, 2018, at the Wayback Machine. CNN. December 7, 2015.
  8. ^ "Keurig Green Mountain to be Acquired by JAB Holding Company-Led Investor Group for $92 Per Share in Cash" Archived November 8, 2020, at the Wayback Machine. Business Wire. December 7, 2015.
  9. ^ "JAB completes acquisition of Keurig Green Mountain" Archived December 9, 2020, at the Wayback Machine. Vermont Business Magazine. March 3, 2016.
  10. ^ "JAB Holding Company-Led Investor Group Completes Acquisition of Keurig Green Mountain, Inc." Archived August 17, 2019, at the Wayback Machine. Business Wire. March 3, 2016.
  11. ^ Cite error: The named reference udland was invoked but never defined (see the help page).
  12. ^ Cite error: The named reference kaplan was invoked but never defined (see the help page).
  13. ^ Cite error: The named reference gamgort was invoked but never defined (see the help page).
  14. ^ Keurig Green Mountain Plans to Buy Dr Pepper Snapple Archived August 25, 2018, at the Wayback Machine The New York Times January 29, 2018
  15. ^ "Factbox: JAB's empire expands in soda with Dr Pepper Snapple deal". Reuters. January 29, 2018. Archived from the original on March 27, 2019. Retrieved March 26, 2018.
  16. ^ "Dr Pepper & Keurig Merger Nears Completion, Forms Board". Nasdaq. Zacks Equity Research. July 3, 2018. Archived from the original on April 26, 2022. Retrieved April 28, 2022.