Keurig Dr Pepper will acquire JDE Peet’s – whose brands include Douwe Egberts, Kenco and Peet’s Coffee – for more than $18 billion and split into two listed businesses.

Keurig Dr Pepper says it will buy Peet's Coffee owner JDE Peet's in an $18 billion acquisition, with plans to split into two companies afterwards.

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.