Keurig Dr Pepper announced an $18 billion deal to acquire Peet’s Coffee and subsequently split into two independent companies focusing separately on coffee and soft drinks. This move unwinds the 2018 merger that combined hot and cold beverages but has faced challenges, particularly with coffee sales lagging due to rising bean prices and shifting consumer preferences. The new coffee company will have around $16 billion in sales with a strong presence in Europe and North America. The restructuring aims to unlock growth by focusing management and capital allocation more sharply on each segment's unique market dynamics.