Keurig Dr Pepper Inc. announced that three board members affiliated with JAB BevCo B.V., namely Joachim Creus, Frank Engelen, and Olivier Goudet, notified the company on February 26, 2025, of their intent to resign. Their resignations will take effect upon the closing of JAB BevCo's public secondary offering of Keurig Dr Pepper shares. There were no disagreements between these directors and the company. Following their departures, the board reduced its size from eleven to eight members.

On February 28, 2025, JAB BevCo completed its previously announced public secondary offering, selling 73,000,000 shares of Keurig Dr Pepper common stock, with J.P. Morgan Securities LLC fully exercising its option to purchase an additional 10,950,000 shares. The total sale amounted to 83,950,000 shares, generating gross proceeds of approximately $2.7 billion for JAB BevCo. Keurig Dr Pepper did not receive any proceeds from the transaction.

In connection with the offering, Keurig Dr Pepper entered into an underwriting agreement on February 26, 2025, with JAB BevCo and J.P. Morgan Securities LLC. The agreement was filed as an exhibit to the company’s Form 8-K.