Keurig Dr Pepper detailed updated financing and timing for its planned acquisition of JDE Peet’s and a subsequent split into two standalone businesses. The company is now targeting an early April 2026 closing and expects combined net leverage of about 4.5x, supported by an upsized $4.5 billion convertible preferred equity investment co-led by Apollo and KKR with participation from T. Rowe Price Investment Management, alongside plans for the future Global Coffee business to raise about $9 billion of debt and assume roughly $5 billion of JDE Peet’s bonds.

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