Every material Form 8-K Keurig Dr Pepper has filed with the SEC since August 25, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Keurig Dr Pepper Inc. reported its third quarter 2026 results, showing a 70.6% increase in net sales to $7.3 billion, largely driven by the JDE Peet's acquisition. Diluted EPS rose 20.4% to $0.59 on a GAAP basis, and the company reaffirmed its full-year guidance expecting net sales between $25.9 billion and $26.4 billion. Shareholders can note positive growth across segments alongside ongoing preparation for corporate separation milestones.
Q3 net sales increased 70.6% year-over-year to $7.3 billion, with legacy KDP net sales up 8.6%.
GAAP diluted EPS grew 20.4% to $0.59, while Adjusted diluted EPS increased 22.2% to $0.66.
Full-year 2026 guidance was reaffirmed at $25.9 billion to $26.4 billion in net sales.
Keurig Dr Pepper's board appointed Aaron Alt as an independent director and increased the board to ten members, effective August 14, 2026. Mr. Alt also joins the Audit and Finance Committee on the same date, and the filing reports no related-party transactions for him.
Board appointed Aaron Alt as an independent director on August 10, 2026, effective August 14, 2026
Board size increased to ten directors
Mr. Alt joins the Audit and Finance Committee effective August 14, 2026
Mr. Alt will receive non-employee director compensation as described in the 2026 proxy statement filed April 24, 2026
Keurig Dr Pepper reported second-quarter 2026 net sales of $7.3 billion, up 75.6% from a year earlier, largely due to the JDE Peet's acquisition, which closed April 1. GAAP diluted EPS fell to $0.04 from $0.40, driven by acquisition and integration-related costs, while adjusted diluted EPS rose 16.3% to $0.57 and the company reaffirmed its full-year 2026 guidance.
Q2 net sales $7.31 billion, up 75.6% reported; legacy KDP net sales up 7.3%
GAAP net income attributable to common shareholders $60 million, or $0.04 per diluted share, versus $547 million, or $0.40, a year earlier
Adjusted diluted EPS $0.57, up 16.3%; 2026 net sales guidance of $25.9-$26.4 billion reaffirmed
Company continues to target a pro-forma management leverage ratio of about 4.1x at year-end 2026
Keurig Dr Pepper said its Controller and Principal Accounting Officer, Angela Stephens, informed the company on June 22, 2026 that she intends to retire after the previously announced separation of its coffee and beverage businesses. She will work with leadership to set up controller functions for the two new independent public companies.
Angela Stephens, Senior Vice President, Controller and Principal Accounting Officer, has served about 18 years.
Notice of intent to retire was given June 22, 2026, with retirement to follow completion of the coffee and beverage separation.
Stephens will help establish controller functions for each of the two separated companies.
Keurig Dr Pepper reported first-quarter 2026 net sales of $4.0 billion, up 9.4%, but GAAP diluted EPS fell to $0.20 from $0.38 and adjusted diluted EPS fell 7.1% to $0.39. The company reaffirmed its 2026 guidance of $25.9 to $26.4 billion in net sales and low-double-digit constant currency adjusted EPS growth, and said it completed the JDE Peet's acquisition on April 1.
Net sales rose 9.4% to $4.0 billion; 8.1% on a constant currency basis
GAAP diluted EPS was $0.20 versus $0.38 a year earlier; adjusted diluted EPS was $0.39, down 7.1%
Adjusted operating income fell 1.9% to $838 million, citing inflationary pressures and higher SG&A
2026 guidance reaffirmed: net sales of $25.9 to $26.4 billion and low-double-digit constant currency adjusted EPS growth
Keurig Dr Pepper said its subsidiary Kodiak BidCo paid €31.85 per share in cash on April 1, 2026 for JDE Peet's shares tendered by March 27, 2026, with total consideration of about €14.86 billion. The deal was funded partly by $4.5 billion of newly issued convertible preferred stock and a $4 billion joint venture investment in the Pod Manufacturing JV, and the company terminated its $364-day bridge credit facility on March 30, 2026.
Kodiak BidCo paid €31.85 per share in cash, with 466,712,270 shares (96.22%) tendered as of March 27, 2026, for about €14.86 billion in total consideration
Company issued 4,500,000 Series A Convertible Perpetual Preferred shares at $1,000 each for $4.5 billion on March 30, 2026
Investor partner contributed about $4 billion to the Pod Manufacturing JV for a 49% interest, and the $364-day bridge credit agreement was terminated March 30, 2026
Post-closing acceptance period runs to April 13, 2026; JDE Peet's shares are expected to stop trading on April 29, 2026 and be delisted on April 30, 2026
Keurig Dr Pepper's subsidiary Maple Parent Holdings Corp. completed private offerings of €3.0 billion of euro notes and $2.55 billion of U.S. dollar notes, both dated March 26, 2026. The company said it will use the proceeds, with other financing, to fund its announced acquisition of JDE Peet's N.V. and related fees, and the notes must be redeemed if that acquisition is not completed by February 24, 2027.
Euro Notes: €3.0 billion in four tranches maturing 2028, 2030, 2032 and 2035, with interest rates from 3.495% to 4.728%
USD Notes: $2.55 billion in four tranches maturing 2029, 2031, 2036 and 2056, with interest rates from 4.750% to 6.625%
Special mandatory redemption applies if the JDE Peet's acquisition is not consummated by February 24, 2027
Notes are unsecured and guaranteed by the company's subsidiaries; guarantees end upon the planned separation of its coffee and beverage businesses
On March 6, 2026, Keurig Dr Pepper amended its term loan, adding subsidiary Maple Parent Holdings Corp. as a co-borrower. KDP will be released from the loan when its coffee and beverage separation is completed, and the company expects to use the borrowings, with other financing, to fund its JDE Peet's acquisition. The company also proposed a private offering of senior unsecured notes in U.S. dollars and euros, subject to market conditions, but the filing does not state the offering size, so shareholders face a large financing step whose final terms remain unknown.
Amendment No. 1 dated March 6, 2026 makes Maple Parent Holdings Corp. a co-borrower, jointly and severally liable with KDP.
€2.6 billion of the term loan is extended to 15 months from initial funding; the remaining €7.75 billion keeps a 364-day maturity.
KDP is released from the loan upon completion of the Separation, and Maple will then be the sole borrower.
KDP Coffee Co net income was $700 million in 2025, down from $739 million in 2024, per the exhibit financial information.
Keurig Dr Pepper reported fourth-quarter 2025 net sales of $4.5 billion, up 10.5%, and full-year net sales of $16.6 billion, up 8.2%. Full-year adjusted diluted EPS rose 7.3% to $2.05, and the company expects 2026 net sales of $25.9-$26.4 billion with low-double-digit constant currency adjusted EPS growth, including an expected contribution from JDE Peet's. The company also said Chair Bob Gamgort will leave the Board at the end of the first quarter of 2026, with Pamela Patsley becoming Chair.
Q4 net sales $4.5 billion, up 10.5%; GAAP diluted EPS $0.26 versus a loss of $0.11 a year earlier; adjusted diluted EPS $0.60, up 1.7%.
Full year net sales $16.6 billion, up 8.2%; GAAP diluted EPS $1.53; adjusted diluted EPS $2.05, up 7.3%.
2026 guidance: net sales of $25.9-$26.4 billion and low-double-digit constant currency adjusted EPS growth, assuming an early April JDE Peet's close.
Pamela Patsley to succeed Bob Gamgort as Board Chair at the end of Q1 2026.
Keurig Dr Pepper signed agreements to raise its convertible preferred investment to $4.5 billion from $3 billion, and to form a pod manufacturing joint venture with a $4.0 billion investor commitment, both tied to its planned JDE Peet's acquisition. The company said it will no longer consider a partial IPO of Beverage Co., and that the JDE Peet's deal is expected to close in early April 2026. The filing contains no revenue, profit or guidance results for the period.
Convertible preferred investment increased by 1,500,000 shares, or $1.5 billion, to $4.5 billion, at $1,000 per share with an initial conversion price of $37.25 per share
$4.0 billion investment into the Pod Manufacturing JV for a 49% interest, with KDP retaining 51%
Expected close of the JDE Peet's acquisition in early April 2026; transaction closing deadline for the JV is March 3, 2027
Company plans to finance the acquisition with approximately $9 billion of long-term debt, $8.5 billion of equity and about $5 billion of assumed JDE Peet's bonds
Keurig Dr Pepper's board increased its size to eleven and appointed William Newlands and Amie Thuener as independent directors, effective March 2, 2026. The board also replaced its Remuneration and Nominating Committee with separate Nominating and Governance and Compensation Committees, effective the same date.
Board size increased to eleven directors; William Newlands and Amie Thuener appointed as independent members, effective March 2, 2026
Newlands joins the Nominating and Governance Committee; Thuener joins the Audit and Finance Committee
Remuneration and Nominating Committee dissolved and replaced by separate Nominating and Governance and Compensation Committees, effective March 2, 2026
On December 18, 2025, Keurig Dr Pepper entered into a 364-day term loan facility of up to €10.35 billion, with Morgan Stanley Senior Funding as administrative agent, and amended its bridge credit agreement to reduce that bridge facility by the same €10.35 billion, to €5.85 billion. The term loan may be used to fund the contemplated acquisition of JDE Peet's, which is a large new borrowing commitment that shareholders should weigh against the deal's terms.
Term loan facility: up to €10.35 billion, 364-day term, interest at EURIBOR plus 0.750% to 1.750% based on index debt ratings.
Bridge loan commitment cut by €10.35 billion, from €16.2 billion to €5.85 billion, under Amendment No. 1 dated December 18, 2025.
Financial covenants include a minimum interest coverage ratio of 3.25 to 1.00 and a maximum total net leverage ratio of 6.25 to 1.00, the latter applying only upon a ratings downgrade.
Commitment fee on undrawn amounts begins December 23, 2025, at 0.060% to 0.200% per annum.
Keurig Dr Pepper appointed Anthony DiSilvestro as Chief Financial Officer effective November 25, 2025, replacing Sudhanshu Priyadarshi, who has left those roles and will serve as a senior advisor through April 7, 2026. A change in the top finance role is a significant leadership event, and the filing discloses DiSilvestro's pay package, including a $1,000,000 base salary and an $8,000,000 grant-date value for his restricted stock units.
Anthony DiSilvestro, 67, was CFO of Mattel, Inc. from June 2020 until May 2025 and CFO of Campbell Soup Company from May 2014 to September 2019
DiSilvestro receives a $1,000,000 annual base salary and a target bonus of 100% of base salary
One-time restricted stock unit grant with a grant date value of $8,000,000, vesting 67% on the second anniversary and 33% on the third anniversary of the grant date
Priyadarshi will receive up to $500,000 in advisory services fees, severance under the executive severance plan, and pro-rata vesting of equity awards
On October 27, 2025, Keurig Dr Pepper agreed to sell 3,000,000 shares of Series A Convertible Perpetual Preferred Stock at $1,000 per share, or $3.0 billion in total, to investors affiliated with KKR and Apollo. The company plans to use the proceeds to fund part of the consideration for its tender offer to acquire JDE Peet's, and the preferred stock would rank senior to common stock on dividends and liquidation.
3,000,000 Series A convertible perpetual preferred shares at $1,000 each, an aggregate $3.0 billion, issued to KKR and Apollo investors
Preferred dividend rate of 4.75% per annum, with an initial conversion price of $37.25 per common share
Proceeds fund part of the JDE Peet's acquisition; closing requires expiration of HSR waiting periods and a substantially concurrent closing of the acquisition
Keurig Dr Pepper reported third-quarter 2025 net sales of $4.3 billion, up 10.7% from a year earlier, and GAAP diluted EPS of $0.49, up 8.9%. The company raised its full-year 2025 constant currency net sales growth outlook to a high-single-digit range from mid-single-digit, and reaffirmed its adjusted EPS growth outlook of high-single-digit.
Q3 2025 net sales were $4.3 billion, up 10.7%; constant currency net sales rose 10.6%
GAAP diluted EPS was $0.49, up 8.9%; adjusted diluted EPS was $0.54, up 5.9%
Full-year 2025 constant currency net sales growth outlook raised to high-single-digit from mid-single-digit
Adjusted diluted EPS growth outlook of high-single-digit reaffirmed
On August 24, 2025, Keurig Dr Pepper entered into a merger protocol to acquire all outstanding JDE Peet's shares through a cash tender offer at €31.85 per share, valuing the equity at about €15.7 billion. The company plans to separate into two independent companies after the acquisition closes, and the filing says the deal is expected to close in the first half of 2026, subject to conditions. The purchase is backed by a bridge loan of up to €16.2 billion, which adds significant debt for shareholders to weigh against the expected benefits.
Offer price of €31.85 per share in cash, plus a previously declared €0.36 dividend paid by JDE Peet's before closing, with no reduction to the offer price
Bridge Credit Agreement dated August 24, 2025 provides up to €16.2 billion in 364-day senior unsecured financing, with interest at EURIBOR plus 0.750% to 2.500%
Acorn Holdings B.V. and certain JDE Peet's directors, holding about 69% of shares, have committed to tender their shares and vote in favor
Closing expected in the first half of 2026; JDE Peet's would pay a termination fee of approximately €156.7 million in certain circumstances, and KDP expects about $400 million in cost synergies over three years
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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