On the Record · Keurig Dr Pepper

Keurig Dr Pepper acquisitions, on the record

The businesses Keurig Dr Pepper bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

Business	Deal	When	Value
BodyArmor Word for word“Gain on Sale of Equity Method Investment. For the years ended December 31, 2022 and 2021, we recorded $50 million and $524 million, respectively, for the sale of our equity method investment in BodyArmor.” 10-K for 2023	divestiture	For the years ended December 31, 2022 and 2021	—
DPS Word for word“KDP was created on July 9, 2018, through the combination of the business operations of Keurig, a leading producer of innovative single serve brewing systems and specialty coffee in the U.S. and Canada, and DPS, a company built over time through a series of strategic acquisitions that brought together iconic beverage brands in North America.” 10-K for 2023	merger	July 9, 2018	—
GHOST Lifestyle LLC Word for word“On October 23, 2024, we entered into a definitive agreement with GHOST, and certain other parties named therein, to acquire a controlling interest in GHOST.” 10-K for 2024	agreed acquisition	On October 23, 2024	—
GHOST Word for word“Effective December 31, 2024, we acquired a controlling interest in GHOST.” 10-K for 2024	acquisition	Effective December 31, 2024	—
Kalil Bottling Company Word for word“On May 30, 2024, we entered into an agreement with Kalil, under which we agreed to acquire all of Kalil’s production, sales, and distribution assets for total consideration of $ 103 million, subject to certain adjustments outlined in the agreement.” 10-K for 2024	acquisition	—	total consideration of $ 103 million
Immaterial acquisition (unnamed) Word for word“We spent $ 6 million in connection with an immaterial acquisition during the year ended December 31, 2024.” 10-K for 2024	acquisition	during the year ended December 31, 2024	$ 6 million
JDE Peet's Word for word“On August 24, 2025, we entered into an agreement to acquire JDE Peet's, a global pure-play coffee company with a portfolio of leading brands including Jacobs, L'OR, and Peet's.” 10-K for 2025	agreed acquisition	August 24, 2025	—

As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year ended	Cash paid for acquisitions (net of cash acquired)	Goodwill from acquisitions
2016-12-31	$15 million	$8 million
2017-12-31	—	$568 million
2018-12-31	—	$10.34 billion
2019-12-31	—	$38 million
2022-12-31	$0	—
2023-12-31	$0	—
2024-12-31	$1 billion	$447 million
2025-12-31	$149 million	$15 million

Deal filings since 2016

2026-04-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-04-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2026-03-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-03-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-02-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-12-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-10-30 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-08-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-05-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-03-31 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-10-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-10-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2024-03-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-04-22 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-03-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-03-15 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-04-15 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-04-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-05-30 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-02-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-07-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-07-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-07-09 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2018-01-31 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-06-15 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-06-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-03-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-02-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-01-31 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2016-12-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-12-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-11-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-09-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-09-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement

Read from Keurig Dr Pepper’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-24. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.