Keurig Dr Pepper entered into an Investment Agreement on October 27, 2025 with Pour Purchaser L.P. (the KKR Investor) and AP Pour Holdings, L.P. (the Apollo Investor) to issue and sell 3,000,000 shares of Series A Convertible Perpetual Preferred Stock at $1,000 per share, for an aggregate purchase price of $3.0 billion.

1. 01

   Keurig Dr Pepper entered into an Investment Agreement on October 27, 2025 with Pour Purchaser L.P. (the KKR Investor) and AP Pour Holdings, L.P. (the Apollo Investor) to issue and sell 3,000,000 shares of Series A Convertible Perpetual Preferred Stock at $1,000 per share, for an aggregate purchase price of $3.0 billion.

2. 02

   The company said it entered into a commitment letter on October 26, 2025 under which the JV Investors committed to contribute $4 billion in cash to acquire a 49% interest in the Pod Manufacturing JV, with the company and its affiliates retaining the remaining 51% interest.

3. 03

   Keurig Dr Pepper said it intends to use the net proceeds from the Convertible Preferred Stock investment to fund a portion of the consideration for the tender offer to acquire all of the issued ordinary shares of JDE Peet's N.V. and related fees and expenses. The investment is subject to conditions including the substantially concurrent closing of the acquisition.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call. Some paragraphs were omitted because their support in the source could not be confirmed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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