Keurig Dr Pepper (KDP) has chosen JDE Peet’s chief executive Rafael Oliveira to head up its future coffee operations. 

In August, the group struck a deal to acquire Dutch coffee company JDE Peet’s for €15.7bn (then $18.36bn) and then split the combined business into two: Beverage Co. and Global Coffee Co. 

In a joint statement yesterday (1 April), the companies confirmed that Keurig Dr Pepper has now acquired 96.22% of JDE Peet’s shares. 

Following the completion of the deal, Keurig Dr Pepper has appointed Oliveira as chief executive of its coffee operating unit and as CEO of the future Global Coffee Co.  

During the integration phase, he will join Keurig Dr Pepper’s executive leadership team and report to Keurig Dr Pepper CEO Tim Cofer.  

As previously announced, Cofer will head up the Beverage Co. unit once the business separation takes place. 

When the deal for JDE Peet's was announced in August, KDP's CFO Sudhanshu Priyadarshi had been picked to lead the global coffee unit. In October, KDP then said its board of directors had started an internal and external search for the future chief of Global Coffee Co. unit.

As well as leading the coffee operations Oliveira will continue in his current roles as executive director and CEO of JDE Peet’s, a position he has held since November 2024.  

JDE Peet’s shares will stop trading on Euronext Amsterdam as of 29 April and will be delisted on 30 April. 

Pam Patsley, chair of Keurig Dr Pepper's board of directors, said the acquisition “marks a defining step in our value creation strategy, and Rafa is the right choice to lead the combined coffee business and launch Global Coffee Co.”.  

She added:  "With proven leadership across complex global markets and a commitment to driving financial results, he has set a course for growth at JDE Peet's. With a singular focus on coffee, the newly integrated coffee business will be poised to create value and growth opportunities for employees, partners, customers, and shareholders".

Before joining JDE Peet’s, Oliveira spent a decade at The Kraft Heinz Company, where he “successfully drove growth, innovation and sustainability initiatives", holding a range of senior posts including executive vice president and president of International Markets, the statement said.

Commenting on the appointment, Oliveira said: “This is an incredible opportunity to create the future of coffee. Global Coffee Co. will aim to be the best coffee company in the world by combining global reach with local expertise to operate across all formats, segments, channels and price points.”  

The timing of the business separation will depend on the completion of “key milestones", the statement said. These include achieving “appropriate leverage levels at each company, and supportive market conditions".  

While a deadline for separation is still to be decided, "key transformation workstreams" are aiming for "operational readiness to separate" by the end of this year. 

In February, Keurig Dr Pepper secured additional financing for the acquisition of the Dutch coffee group and its subsequent plan to split into two businesses.