Keurig Dr Pepper will acquire JDE Peet’s, a Dutch company that operates brands like Peet’s Coffee and Stumptown Coffee Roasters, in a deal worth $18 billion, the companies announced on Monday, Aug. 25.

A new, separate coffee business is poised to become the “world's largest pure-play coffee company”, a statement said.

Keurig Dr Pepper Inc. announced an $18 billion all-cash deal to acquire Dutch-based JDE Peet’s NV on Monday, a major bet on coffee for the U.S. drinks giant, whose stock has been struggling for years.