BURLINGTON, Mass. and
PLANO, Texas, June 11, 2020 /PRNewswire/ -- Keurig Dr Pepper
Inc. (NYSE: KDP) announced today that JAB Holdings B.V.
("JAB") has indicated its intention for its majority-owned Maple
Holdings B.V. subsidiary ("Maple") to convert a portion of the
interest of its minority partners into shares of KDP that will
become freely tradeable after a lock-up period. JAB and
Maple will collectively remain a controlling shareholder of
KDP following the distribution.
To affect the transaction, Maple intends to distribute
approximately 143 million shares of KDP stock that Maple currently
holds, representing approximately 10.1% of the outstanding common
stock of KDP. The minority partners involved in the
transaction are affiliates of BDT Capital Partners ("BDT"),
affiliates of Quadrant Capital Advisors ("Quadrant") and the JAB
Consumer Fund. These minority partners have been invested in KDP,
through their interests in Maple, since the JAB-led acquisition of
Keurig Green Mountain, which was announced in 2015, and will
continue to retain stakes in Maple following the distribution. All
of the minority partners receiving shares as part of this
distribution will be subject to lock-up provisions on the
distributed shares for six months on 50% of the shares and 12
months for the remaining distribution.
Following the distribution and lock-up period, JAB and Maple
will collectively own 52.6% of KDP, Mondelēz International, Inc.
will continue to own 13.1% and the public float will increase to
34.3%, including shares held directly by the minority partners.
Maple and its affiliates intend to make the required filings
with the SEC, including an amendment to Maple's existing Schedule
13D, upon the completion of the distribution.
Keurig Dr Pepper
T: 781-418-3352 / email@example.com
Keurig Dr Pepper
T: 972-673-6769 / firstname.lastname@example.org
Keurig Dr Pepper
T: 781-418-3345 / email@example.com
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 nearly 26,000 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.
FORWARD LOOKING STATEMENTS
contained herein are "forward-looking statements" within the
meaning of applicable securities laws and regulations. These
statements are often, but not always, made through the use of words
or phrases such as "may," "might," "should," "could," "predict,"
"potential," "believe," "expect," "continue," "will," "anticipate,"
"seek," "estimate," "intend," "plan," and "would," or the negative
version of those words or other comparable words or phrases of a
future or forward-looking nature. These forward-looking statements
have been based on the Company's current views with respect to
future events and the timing of this secondary offering. These
forward-looking statements are subject to a number of risks and
uncertainties including prevailing market conditions, as well as
other factors. All of the forward-looking statements are qualified
in their entirety by reference to the factors discussed under "Risk
Factors" in Part I, Item 1A of the Company's Annual Report on Form
10-K for the year ended December 31,
2019 and the Company's other filings with the SEC.
Forward-looking statements represent the Company's estimates and
assumptions only as of the date that they were made. The Company
does not undertake any duty to update the forward-looking
statements, and the estimates and assumptions associated with them,
after the date of this release, except to the extent required by
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SOURCE Keurig Dr Pepper