Acquisition represents the Company’s latest move in the evolution of its allied brands portfolio
BURLINGTON, Mass. and PLANO, Texas, Sept. 27, 2018 /PRNewswire/ — Keurig Dr Pepper (NYSE: KDP) today announced that it has entered into a definitive agreement to acquire CORE® Nutrition LLC at a value of $525 million, or approximately $435 million net of anticipated tax benefits. Founded in 2015, the rapidly growing Core® Nutrition portfolio includes CORE® Hydration, a premium, nutrient-enhanced bottled water, and CORE® Organic, USDA-certified organic enhanced fruit hydration, both currently distributed by KDP.
The acquisition of CORE® Nutrition will be funded with KDP common stock, net of KDP’s current equity investment and certain other contractual adjustments. The Company expects the transaction to be neutral to KDP’s adjusted diluted earnings per share in 2019 and accretive thereafter.
CORE® has been a KDP allied brand since 2016, with KDP currently managing approximately two-thirds of the brand’s U.S. distribution.
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