Keurig Dr Pepper buy coffee chain for £13bn

Keurig Dr Pepper is set to acquire Peet's coffee for $18bn, creating a "global coffee champion" with a focus on brands like Douwe Egberts and L'Or. Despite plans to split into two US-listed companies - one for coffee and one for soft drinks - concerns arose as shares dropped over 7% amidst worries about the change in strategy from the previous merger with Green Mountain Coffee. The new coffee company will have a significant presence with $16bn in annual sales and over 40 manufacturing facilities globally, aiming to tackle challenges in the industry like tariffs and rising coffee bean prices.