Keurig Dr Pepper Inc. entered into definitive agreements to sell its entire equity stake in Chobani for $800 million, comprising $400 million in cash and a $400 million promissory note maturing December 26, 2026. Additionally, the company will sell leasehold interests in two Allentown, Pennsylvania facilities to Chobani for $125 million. The transactions are expected to close in the third quarter of 2026 and generate approximately $925 million in pre-tax proceeds, which Keurig Dr Pepper intends to use for debt reduction. Concurrently, the companies are expanding their commercial partnership, with Keurig Dr Pepper continuing to distribute Chobani's ready-to-drink beverages through its direct store delivery network and maintaining licensing agreements for La Colombe K-Cup pods. Keurig Dr Pepper Inc. is a leading beverage company operating in the North American refreshment and global coffee markets.
