Dr Pepper will unwind its merger with Keurig after buying Peet's for $18 billion : NPR

NEW YORK — Less than a decade after their merger, Keurig and Dr Pepper plan to become separate companies again.

Keurig Dr Pepper said Monday it is buying the owner of Peet's Coffee in an $18 billion (15.7 billion euro) . Then it will break itself in two, with one company selling coffee and the other selling cold beverages like Snapple, Dr Pepper, 7UP and energy drinks.

The agreement unwinds the 2018 merger of Keurig and Dr. Pepper. Shares of Keurig Dr Pepper fell 7% in early trading Monday.

Keurig Dr Pepper CEO Timothy Cofer said the separate coffee and beverage businesses would be more nimble and better able to focus on growth opportunities in their own markets.

"Following the separation, each stand-alone entity will lead its industry with a sharp strategic focus and with operating mo