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.

In 2023, Kellogg Co. split into two companies. Mars bought Kellanova, the owner of snack brands like Pringles, last year. Italian confectioner Ferrero announced in July that it planned to buy WK Kellogg, the cereal company. Struggling Kraft Heinz has also been considering a split.

After the takeover, the company will split into two businesses, one focusing on coffee and one on soft drinks.