US beverage giants Dr Pepper Snapple and Keurig merge
US beverage giants Dr Pepper Snapple and Keurig Green Mountain have merged to form ‘Keurig Dr Pepper’.
Within the US, Dr Pepper Snapple is responsible for numerous beverages including 7 Up, Sunkist, Schweppes, Bai, Diet Rite and Orangina.
Keurig Green Mountain manufacturers and sells Keurig, a US, Canada and Mexico sold beverage pod system that makes coffees and other beverages.
Dr Pepper Snapple said the merger will provide “unrivalled distribution capability to reach virtually every point-of-sale in North America”.
“This transaction will deliver significant and immediate value to our shareholders, along with the opportunity to participate in the long-term upside potential of our combined company and attract new brands and beverage categories to our platform in a fast-changing industry landscape,” said Chief Executive Officer of Dr Pepper Snapple Larry Young.
“We are excited to combine with Keurig to build on the rich heritage and expertise of both companies and provide the highest-quality hot and cold beverages to satisfy every consumer throughout the day.”
Answering the beverage demands of modern consumers
Chief Executive Officer of Keurig, Bob Gamgort, said seeing the industry through consumer’s eyes has provided the opportunity to see demand for combining hot and cold beverages.
“The combination of Dr Pepper Snapple and Keurig will create a new scale beverage company which addresses today’s consumer needs, with a powerful platform of consumer brands and an unparalleled distribution capability to reach virtually every consumer, everywhere,” Gamgort said.
“We are fortunate to have talented leadership teams within both companies, and I look forward to working together with the Dr Pepper Snapple team to make this combination a success for all of our stakeholders.”
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