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Paul, Weiss is advising Keurig Dr Pepper on its €15.7 billion ($18.4 billion) all-cash acquisition of leading global coffee company JDE Peet’s and its planned separation into two independent public companies. Under the terms of the deal, KDP will pay JDE Peet’s shareholders €31.85 ($37.27) per share.

Upon close, expected in the first half of 2026 and subject to customary closing conditions, KDP plans to separate into two U.S.-listed companies—a beverage company and a coffee company—via a tax-free spinoff of its coffee business. This coffee business is expected to be the world’s No. 1 pure-play coffee company, with about $16 billion in combined annual net sales from brands such as Keurig, Jacobs, L’OR and Peet’s. The beverage company will be a fast-growing North American refreshment beverages business, with about $11 billion in annual net sales from brands including Dr Pepper, Canada Dry, 7UP and A&W.

The Paul, Weiss team is led by corporate partners James Langston and Chelsea Darnell, and includes partners Ravi Purohit, Eric Wedel, Matthew Leist, Luke Jennings, Caroline Epstein, John Kennedy, Nick Bogdanovich, Neel Sachdev, Manuel Frey, Tony Rim, Michael Spirtos, Patricia Vaz de Almeida and Mohammed Alvi, and counsel Nathan Mitchell; intellectual property partners Jonathan Ashtor, Claudine Meredith-Goujon and Brianna van Kan; tax partner Brian Krause and counsel Alyssa Wolpin; executive compensation partner Matthew Friestedt and counsel Cynthia Akard; real estate partner Harris Freidus; environmental counsel William O’Brien; and litigation counsel Audrey Paquet.