On April 1, 2026, Keurig Dr Pepper Inc. (KDP) announced the issuance of 4,500,000 shares of its newly created Series A Convertible Perpetual Preferred Stock, raising an aggregate of $4.5 billion. This capital raise is part of a strategic move to finance the acquisition of JDE Peet's N.V., a significant step in KDP's transformation into a global coffee powerhouse. The preferred stock was sold at a price of $1,000 per share, pursuant to an Investment Agreement with notable investors including KKR and Apollo. The net proceeds from this issuance will be utilized to cover a portion of the acquisition costs associated with JDE Peet's, which KDP has been pursuing since the merger protocol was established in August 2025. The acquisition is expected to enhance KDP's portfolio, combining its existing coffee business with JDE Peet's extensive brand offerings. Furthermore, KDP has filed a Certificate of Designations with the Delaware Secretary of State, detailing the rights and preferences of the newly issued preferred stock. This move is anticipated to bolster KDP's operational execution and strategic outlook, positioning the company for future growth in the competitive beverage market.

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