London —

Keurig Dr Pepper will acquire JDE Peet’s – whose brands include Douwe Egberts, Kenco and Peet’s Coffee – for more than $18 billion and split into two listed businesses.

The company behind Dr Pepper and 7Up drinks and Keurig coffee products is set to separate into a soft drinks company and a coffee group, according to a joint statement published Monday.

Keurig Dr Pepper will pay the shareholders of the Dutch company €31.85 ($37.26) per share in cash, representing a total purchase price of €15.7 billion ($18.4 billion.)

Once the transaction is complete, the aim is to create two separate companies: Beverage Co. and Global Coffee Co.

Dr Pepper was the second-most popular soda in the United States last year, below just Coca-Cola and ahead of Pepsi . But coffee is eve

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