Plano / Burlington. (kdp) Keurig Dr Pepper announced the successful completion of the merger between Keurig Green Mountain and Dr Pepper Snapple Group. The merger was reported in January 2018. The transaction created the seventh-largest company in the U.S. food and beverage sector and third-largest beverage company in North America, with annual revenues of approximately 11 billion USD.
Commenting on the announcement, Keurig Dr Pepper CEO Bob Gamgort stated, «The combination of these two great companies creates the scale, portfolio and selling and distribution capabilities to compete differently in the beverage industry. With a large stable of iconic brands and the leading single-serve coffee brewing system on the market, KDP has the ability to satisfy any beverage need or consumption occasion – hot or cold, at work or at play, at home or on the go – and the capability to get our brands to consumers virtually any time and anywhere they purchase beverages. I am honoured to lead this great team and excited that together we will challenge this industry in a new way».
Shares in Keurig Dr Pepper began trading on the New York Stock Exchange on July 10, 2018, under the ticker symbol KDP, with JAB Holding Company as its controlling shareholder.
As previously announced, under the terms of the merger agreement, Dr Pepper Snapple shareholders received a special cash dividend of 103.75 USD per share, payable in U.S. Dollars, on July 10, 2018, to shareholders of record on the July 06, 2018 record date, the trading day immediately prior to the closing date. Through July 09, 2018, the shares have traded with «due-bills», representing an assignment of the right to receive the special cash dividend. On July 10, 2018, the shares began trading ex-dividend. KDP will maintain dual headquarters in Burlington (MA) and Plano (TX).