BURLINGTON, Mass. and FRISCO, Tex., Oct. 28,
2024 /PRNewswire/ -- Keurig Dr Pepper (NASDAQ: KDP)
(the "Company or "KDP") announced today that a subsidiary of JAB
Holding Company s.a.r.l. ("JAB") will sell an aggregate of
60,000,000 shares of KDP common stock through a proposed registered
public offering. JAB has also granted the underwriter a
30-day option to purchase up to an additional 9,000,000 shares.
Following the completion of the offering, JAB will beneficially
own approximately 16.5% of KDP's outstanding common stock, or
approximately 15.8% assuming full exercise of the underwriter's
option to purchase additional shares. The remaining shares
beneficially owned by JAB will be subject to a 90-day lock-up
agreement with the underwriter.
Additionally, to fill the vacancy on the KDP Board of Directors
(the "Board") left by JAB Partner Lubomira Rochet, who notified the
Company of her immediate resignation, the Board has appointed
Frank Engelen, Managing Partner and
CFO of JAB, as a director. Mr. Engelen will serve for an
initial term expiring at the Company's 2025 annual meeting of
stockholders.
"Keurig Dr Pepper has long been JAB's largest and most
successful investment and will remain so following this
transaction," said Joachim Creus,
JAB Managing Partner, Vice Chairman and CEO, in connection with the
proposed secondary offering. "We believe KDP has significant
forward momentum, with key enablers including its refreshed
leadership team, sharp strategy and disciplined capital allocation
philosophy. JAB's demonstrated conviction in the resilience
of the global coffee sector reinforces our positive view on KDP,
and we look forward to participating in the value-creation ahead.
As KDP Board members, Frank and I will continue to support
the Company's vision of providing a beverage for every need,
anytime, anywhere."
Morgan Stanley & Co. LLC is acting as the underwriter for
the proposed secondary offering.
The offering will be made only by means of an effective
registration statement and a prospectus. The Company has previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
a registration statement (including a prospectus) on Form S-3 (File
No. 333-266989) and a prospectus supplement, each dated
August 19, 2022, as well as a
preliminary prospectus supplement for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement, the accompanying
prospectus supplements and other documents the issuer has filed
with the SEC for more complete information about the issuer and
this offering. These documents can be accessed through the SEC's
website at www.sec.gov or by contacting Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, or by
email at prospectus@morganstanley.com. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Investors:
Investor Relations
Keurig Dr Pepper
T: 888-340-5287 / IR@kdrp.com
Media:
Katie Gilroy
Keurig Dr Pepper
T: 781-418-3345 / katie.gilroy@kdrp.com
About Keurig Dr Pepper
Keurig Dr Pepper (Nasdaq: KDP) is a leading beverage company in
North America, with a portfolio of
more than 125 owned, licensed and partner brands and powerful
distribution capabilities to provide a beverage for every need,
anytime, anywhere. With annual revenue of approximately
$15 billion, we hold leadership
positions in beverage categories including soft drinks, coffee,
tea, water, juice and mixers, and have the #1 single serve coffee
brewing system in the U.S. and Canada. Our innovative partnership model
builds emerging growth platforms in categories such as premium
coffee, energy, sports hydration and ready-to-drink coffee. Our
brands include Keurig®, Dr Pepper®, Canada Dry®, Mott's®, A&W®,
Snapple®, Peñafiel®, 7UP®, Green Mountain Coffee Roasters®,
Clamato®, Core Hydration® and The Original Donut Shop®. Driven by a
purpose to Drink Well. Do Good., our 28,000 employees aim to
enhance the experience of every beverage occasion and to make a
positive impact for people, communities and the planet. For more
information, visit www.keurigdrpepper.com and follow us on
LinkedIn.
FORWARD-LOOKING STATEMENTS
Certain statements contained herein are "forward-looking
statements" within the meaning of applicable securities laws and
regulations. These forward-looking statements can generally be
identified by the use of words such as "outlook," "guidance,"
"anticipate," "expect," "believe," "could," "estimate," "feel,"
"forecast," "intend," "may," "plan," "potential," "project,"
"should," "target," "will," "would," and similar words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. These statements are based on
the current expectations of our management, are not predictions of
actual performance, and actual results may differ materially.
Forward-looking statements are subject to a number of risks and
uncertainties, including the factors disclosed in our Annual Report
on Form 10-K, the prospectus supplements and subsequent filings
with the SEC. We are under no obligation to update, modify or
withdraw any forward-looking statements, except as required by
applicable law.
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SOURCE Keurig Dr Pepper Inc.
