Keurig Dr Pepper (NYSE: KDP) announced today the completion of its previously-announced registered public secondary offering of 40.0 million shares of the Company's common stock, or approximately 2.8% of the Company's outstanding common stock, for gross proceeds of approximately $1.08 billion. All of the shares have been sold by Maple Holdings B.V. and by Mondel?z International Holdings LLC. The selling stockholders have granted the underwriter a 30-day option to purchase up to an additional 6.0 million shares of the Company's common stock.
Maple is a holding company majority-owned by JAB Holdings B.V. ("JAB"). JAB has directly purchased 7.4 million shares of the Company's common stock in this offering at a price equal to the price paid for the common stock by the underwriter for approximately $200 million. JAB may also purchase additional shares if the underwriter exercises its option. The net impact of the offering increased the float by approximately 2.3%.
Following the completion of the offering, and assuming the underwriter does not subsequently exercise its option to purchase additional shares, Maple and JAB will collectively beneficially own approximately 65.1% of the Company's outstanding common stock.
Morgan Stanley & Co. LLC is acting as underwriter for the offering.
About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and 25,000 employees. KDP holds leadership positions in soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company's portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott's®, CORE® and The Original Donut Shop®. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers. The Company is committed to sourcing, producing and distributing its beverages responsibly through its Drink Well. Do Good. corporate responsibility platform, including efforts around circular packaging, efficient natural resource use and supply chain sustainability. For more information, visit, www.keurigdrpepper.com.
