KDP — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-23

• On January 15, 2026, we commenced a tender offer to acquire all of the issued and outstanding ordinary shares of JDE Peet's for a cash offer price of €31.85 per share, without interest. We substantially completed the tender offer on April 1, 2026.

• During the first quarter of 2026, we completed a series of transactions in order to obtain funding for the consideration of the JDE Peet's Acquisition:

• Refer to Notes 2, 3, 4, 5, and 19 of the Notes to our unaudited Condensed Consolidated Financial Statements for further information about these transactions and the closing of the JDE Peet's Acquisition.

• We have incurred acquisition, integration, and financing costs associated with the acquisition of JDE Peet's and planned Separation, which include costs to obtain proceeds to close the JDE Peet's acquisition and costs to manage the FX risk associated with the purchase price. These costs were primari…

• Gross profit increased 5.7% to $2,098 million for the first quarter of 2026. This performance primarily reflected the gross profit impact of net sales growth (14 percentage points), partially offset by a net unfavorable impact from changes in ingredients, materials, and productivity, inclusive of ta…

Text removed vs the prior filing · source: 10-Q · 2025-10-28

• This Quarterly Report does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in JDE Peet's. Any offer will be made only by means of an offer memorandum approved by the Dutch Authority for the Financial Markets. This Quarterly Report is not for release,…

• Announcement of JDE Peet's Acquisition and Intended Separation of Beverage and Coffee Portfolios

• On August 24, 2025, we entered into the JDE Peet's Acquisition Agreement. Refer to Note 2 of the Notes to our Unaudited Consolidated Financial Statements for additional information.

• On August 25, 2025, we announced our intention to separate our beverage and coffee portfolios into two independent, publicly traded companies, subsequent to the closure of the JDE Peet's Acquisition.

• References in tables below to percentage changes that are not meaningful are denoted by "NM".

Text added vs the prior filing · source: 10-Q · 2026-04-23

• AP Pour Holdings, L.P., together with its affiliates, who are party to the Preferred Investment Agreement

• Bridge Credit AgreementThe bridge credit agreement entered into on August 24, 2025, amended on December 18, 2025 and terminated on March 30, 2026

• Certificate of DesignationsCertificate of Designations, Preferences and Rights of Series A Convertible Perpetual Preferred Stock

• Delayed Draw Term Loan AgreementThe delayed draw term loan agreement entered into by KDP on December 18, 2025 and amended on March 6, 2026

• The committee managing the business of the Pod Manufacturing JV

Text removed vs the prior filing · source: 10-Q · 2025-10-28

• One or more affiliated investment funds of Apollo Management Holdings, L.P. who are party to the Preferred Investment Agreement

• Bridge Credit AgreementBridge credit agreement entered into on August 24, 2025, among KDP, the lenders party thereto, and Morgan Stanley Senior Funding, Inc., as administrative agent

• GHOSTGHOST Lifestyle LLC, a Delaware limited liability company, and a portfolio of energy beverages

• GHOST TransactionsThe series of transactions by which KDP acquired 60% of the interests in GHOST effective December 31, 2024, agreed to purchase the remaining 40% of the interests in GHOST in 2028, and obtained the rights to distribute GHOST products effective March 3, 2025

• The planned acquisition of JDE Peet's, which was announced on August 25, 2025

Text added vs the prior filing · source: 10-Q · 2026-04-23

• AP Pour Holdings, L.P., together with its affiliates, who are party to the Preferred Investment Agreement

• Bridge Credit AgreementThe bridge credit agreement entered into on August 24, 2025, amended on December 18, 2025 and terminated on March 30, 2026

• Certificate of DesignationsCertificate of Designations, Preferences and Rights of Series A Convertible Perpetual Preferred Stock

• Delayed Draw Term Loan AgreementThe delayed draw term loan agreement entered into by KDP on December 18, 2025 and amended on March 6, 2026

• The committee managing the business of the Pod Manufacturing JV

Text removed vs the prior filing · source: 10-Q · 2025-10-28

• One or more affiliated investment funds of Apollo Management Holdings, L.P. who are party to the Preferred Investment Agreement

• Bridge Credit AgreementBridge credit agreement entered into on August 24, 2025, among KDP, the lenders party thereto, and Morgan Stanley Senior Funding, Inc., as administrative agent

• GHOSTGHOST Lifestyle LLC, a Delaware limited liability company, and a portfolio of energy beverages

• GHOST TransactionsThe series of transactions by which KDP acquired 60% of the interests in GHOST effective December 31, 2024, agreed to purchase the remaining 40% of the interests in GHOST in 2028, and obtained the rights to distribute GHOST products effective March 3, 2025

• The planned acquisition of JDE Peet's, which was announced on August 25, 2025

Text added vs the prior filing · source: 10-Q · 2026-04-23

• AP Pour Holdings, L.P., together with its affiliates, who are party to the Preferred Investment Agreement

• Bridge Credit AgreementThe bridge credit agreement entered into on August 24, 2025, amended on December 18, 2025 and terminated on March 30, 2026

• Certificate of DesignationsCertificate of Designations, Preferences and Rights of Series A Convertible Perpetual Preferred Stock

• Delayed Draw Term Loan AgreementThe delayed draw term loan agreement entered into by KDP on December 18, 2025 and amended on March 6, 2026

• The committee managing the business of the Pod Manufacturing JV

Text removed vs the prior filing · source: 10-Q · 2025-10-28

• One or more affiliated investment funds of Apollo Management Holdings, L.P. who are party to the Preferred Investment Agreement

• Bridge Credit AgreementBridge credit agreement entered into on August 24, 2025, among KDP, the lenders party thereto, and Morgan Stanley Senior Funding, Inc., as administrative agent

• GHOSTGHOST Lifestyle LLC, a Delaware limited liability company, and a portfolio of energy beverages

• GHOST TransactionsThe series of transactions by which KDP acquired 60% of the interests in GHOST effective December 31, 2024, agreed to purchase the remaining 40% of the interests in GHOST in 2028, and obtained the rights to distribute GHOST products effective March 3, 2025

• The planned acquisition of JDE Peet's, which was announced on August 25, 2025

Text added vs the prior filing · source: 10-Q · 2026-04-23

• 2025 Revolving Credit AgreementKDP’s revolving credit agreement, which was executed in March 2025 and amended in September 2025

• Annual Report on Form 10-K for the year ended December 31, 2025

• AP Pour Holdings, L.P., together with its affiliates, who are party to the Preferred Investment Agreement

• Athletic BrewingAthletic Brewing Holding Company, LLC, an equity method investment of KDP

• Bridge Credit AgreementThe bridge credit agreement entered into on August 24, 2025, amended on December 18, 2025 and terminated on March 30, 2026

Text added vs the prior filing · source: 10-Q · 2026-04-23

• AP Pour Holdings, L.P., together with its affiliates, who are party to the Preferred Investment Agreement

• Bridge Credit AgreementThe bridge credit agreement entered into on August 24, 2025, amended on December 18, 2025 and terminated on March 30, 2026

• Certificate of DesignationsCertificate of Designations, Preferences and Rights of Series A Convertible Perpetual Preferred Stock

• Delayed Draw Term Loan AgreementThe delayed draw term loan agreement entered into by KDP on December 18, 2025 and amended on March 6, 2026

• The committee managing the business of the Pod Manufacturing JV

Text removed vs the prior filing · source: 10-Q · 2025-10-28

• One or more affiliated investment funds of Apollo Management Holdings, L.P. who are party to the Preferred Investment Agreement

• Bridge Credit AgreementBridge credit agreement entered into on August 24, 2025, among KDP, the lenders party thereto, and Morgan Stanley Senior Funding, Inc., as administrative agent

• GHOSTGHOST Lifestyle LLC, a Delaware limited liability company, and a portfolio of energy beverages

• GHOST TransactionsThe series of transactions by which KDP acquired 60% of the interests in GHOST effective December 31, 2024, agreed to purchase the remaining 40% of the interests in GHOST in 2028, and obtained the rights to distribute GHOST products effective March 3, 2025

• The planned acquisition of JDE Peet's, which was announced on August 25, 2025