Keurig is buying out Dr. Pepper Snapple Group Inc.
The companies, both the result of previous mergers, will bring under one tent global brands like:
- Dr Pepper
- 7UP
- Snapple
- A&W
- Mott’s
- Sunkist
- Keurig’s single-serve coffee makers
The merge is expected to create a giant company, worth about $11 billion in annual sales.
Keurig Green Mountain Inc. said Monday that Dr. Pepper Snapple shareholders will receive $103.75 per share in a special cash dividend and keep 13 percent of the combined company.
Shares of Dr. Pepper Snapple soared more than 36 percent before the opening bell Monday.
Keurig CEO Bob Gamgort will lead the new company, called Keurig Dr. Pepper.