KDP sells Chobani stake and Allentown facility for $925M pre-tax proceeds

Keurig Dr Pepper Inc.

Sells full Chobani equity stake for $800M: $400M cash at close plus $400M promissory note maturing Dec 26, 2026.
Chobani acquires Allentown, PA manufacturing facility and warehouse for ~$125M; KDP employees in delivery/customer service remain.
Proceeds to be used for deleveraging ahead of Beverage Co. and Global Coffee Co. separation.
Expanded distribution agreement: KDP continues DSD for La Colombe RTD and other Chobani beverages, plus K-Cup licensing in U.S./Canada.
Transactions expected to close Q3 2026, subject to customary closing conditions; co-manufacturing continues for defined period.

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