Keurig Dr Pepper Inc. is a publicly traded American beverage and coffeemaker conglomerate with headquarters located in Burlington, Massachusetts, and Frisco, Texas.[6] Formed in July 2018, with the merger of Keurig Green Mountain and Dr Pepper Snapple Group (formerly Dr Pepper/7up Inc.), Keurig Dr Pepper produces and distributes more than 125 hot and cold beverages. The company's Canadian business unit subsidiary operates as Keurig Dr Pepper Canada (formerly Canada Dry Motts).
Through its Keurig division in Massachusetts, the company manufactures brewing systems; sources, produces, and sells coffee, hot cocoa, teas, and other beverages under various brands for its Keurig machines; and sells coffee beans and ground coffee in bags and fractional packs. Following the 2018 merger, the conglomerate also sells sodas, juices, and other soft drinks via its Dr Pepper Snapple division based in Texas.
Green Mountain Coffee Roasters (GMCR) was established in 1979. After regional and national expansion in the late 1980s, and an IPO in 1993, the company completed its acquisition of the brewing-machine manufacturer Keurig, Inc. in 2006, enabling rapid growth through the high-margin sales of its many varieties of single-serve K-Cup pods. In March 2014, GMCR changed its name to Keurig Green Mountain.
A publicly traded company from 1993 through 2015, Keurig Green Mountain was acquired by a group of investors led by JAB Holding Company in March 2016 for $13.9 billion in cash.[7][8][9][10] Keurig Green Mountain became a privately held company for two years, and was an independent entity run by its pre-existing management team and a new CEO.
On July 9, 2018, Keurig Green Mountain acquired the Dr Pepper Snapple Group in an $18.7-billion deal.[11] The combined company was renamed Keurig Dr Pepper, and traded publicly again on the New York Stock Exchange under the ticker "KDP" until 2020 when it switched to Nasdaq while retaining the same ticker. Shareholders of Dr Pepper Snapple Group own 13% of the combined company, with Keurig shareholder Mondelez International owning 13% to 14% of that fraction. JAB Holding Company owns the remaining 73-74%.[12][13]
Since April 2024, the CEO of Keurig Dr Pepper has been Tim Cofer.[3]
History
Beginnings
The original Green Mountain Coffee Roasters (GMCR) was founded in November 1979 by Doug and Jamie Baine in Waitsfield, Vermont[14] In 1981, entrepreneur Bob Stiller purchased a two-thirds stake in the company after discovering its coffee at a Vermont ski resort.[15] The store and cafe sold beans, grounds, and coffee to the public and a few restaurants.[16] Stiller focused the company's production on roasting arabica coffee beans.[17] By 1982, the company had around 30 employees, and moved its production facilities to Waterbury, Vermont.[18]
Corporate affairs
Inventory lawsuit
The SEC began to look into how then-named Green Mountain Coffee accounted for revenue in 2010.[88] Shortly afterward, a class action lawsuit began regarding how inventory was handled,[89] with the amended lawsuit being filed April 30, 2012.[90] Plaintiffs stated Green Mountain Coffee had maintained demand was high enough that no excess inventory had been produced even while production continued to increase.[91] Confidential Green Mountain Coffee employees had stated inventory had been moved between locations without documentation in order to overstate inventory counts and inflate earnings.[88] In June 2018, the then-named Keurig Green Mountain, Inc. agreed to a $36.5 million settlement.
Brands
- 50/50
- 7 Up (U.S.A., Pakistan & India)
- A&W Root Beer (worldwide except Canada and the Philippines)
- A&W Cream Soda
- Bai Brands
- Bonsai Sparkling Water
- Cactus Cooler
- Canada Dry
- Sussex Golden
- Core Brands (Water/Fitness Nutrition)
External links
References
- Green Mountain Coffee Roasters - Fast Facts Green Mountain Coffee Roasters^
- Robert Stiller Forbes, retrieved April 15, 2020^
- Leading with Vision: Tim Cofer Assumes CEO Role at KDP KeurigDrPepper.com, 26 April 2024, retrieved 8 September 2024^