Latham Represents Apollo in Upsized US$8.5 Billion Strategic Investment Co-Led by Apollo and KKR in Keurig Dr Pepper
Latham & Watkins represented Apollo in multiple financing transactions to support Keurig Dr Pepper’s completed acquisition of JDE Peet’s. The financing included an upsized Beverage Co. convertible preferred equity investment co-led by Apollo and KKR to US$4.5 billion from US$3 billion, with additional participation from high-quality, long-term oriented investors including accounts advised by T. Rowe Price Investment Management. The financing also included a US$4 billion investment for a newly formed K-Cup® pod and other single-serve manufacturing joint venture co-led by Apollo and KKR, with participation from Goldman Sachs Alternatives, that was previously announced in October 2025.
Latham represented Apollo in the convertible preferred stock investment with a deal team led by New York partners Tracey Zaccone and Eric Rice, and Orange County partner Drew Capurro, with counsel Evan Kirsch and associates Matt DeSilva, Abdullah Khan, and Sam Berry. Advice was also provided on tax matters by Los Angeles partner Pardis Zomorodi and Houston partner Christine Mainguy; on antitrust matters by Washington, D.C. partner David Brenneman, Frankfurt/ Düsseldorf partner Max Hauser, Hamburg partner Jana Dammann, and Frankfurt counsel Nils Bremer; on intellectual property matters by New York partner Pelin Serpin; and on employment matters by New York partner Erin Murphy.
Latham also represented Apollo in the joint venture with a deal team led by New York partners Chirag Dedania, Javier Stark, and Gary Boss and counsel Natasha Burnett, with associates Anny Yang and Joey Yu. Advice was also provided on intellectual property matters by Orange County/Los Angeles partner Ghaith Mahmood and counsel Ryan Clore, with associates Kellye Renea Quirk and Daniel Donovan; on tax matters by New York partner Bora Bozkurt and Houston partner Christine Mainguy, with associate Michael Yu; on antitrust matters by Washington, D.C. partner David Brenneman, Frankfurt/Düsseldorf partner Max Hauser, Hamburg partner Jana Dammann, and Frankfurt counsel Nils Bremer; on insurance matters by New York partner Paul Moura; and on real estate matters by New York partner Dara Denberg, with associate Michael Nieberg.