Keurig Dr Pepper Inc. Completes $800M Chobani Stake Redemption

What Happened
Keurig Dr Pepper Inc. (KDP) reported on September 28, 2026 that two of its subsidiaries, DPS Holdings Inc. and Mott’s LLP, and certain affiliates completed previously announced transactions with FHU US Holdings, LLC and affiliates of Chobani. The transactions included the redemption of all of KDP’s indirect equity interests in Chobani for aggregate consideration of $800 million and the sale of certain assets, including leasehold interests in two Allentown, Pennsylvania facilities, for $125 million in cash.

Key Details

• Redemption consideration: $800 million total, consisting of $400 million in cash and a $400 million promissory note issued by Chobani.
• Promissory note maturity: December 26, 2026.
• Asset sale: Certain assets (including leasehold interests in two Allentown, PA facilities) sold for $125 million in cash.
• Transaction completion date and filing: Completed and reported on September 28, 2026; 8-K signed by Anthony Shoemaker, Chief Legal Officer.

Why It Matters

• Cash and receivable impact: KDP receives $525 million in cash (the $400M cash redemption plus $125M asset sale) and a $400 million promissory note, which affects near-term liquidity and short-term receivables.
• Balance sheet and focus: The transactions represent KDP exiting its indirect equity position in Chobani and disposing of related leasehold assets, which may simplify the company’s portfolio and remove ongoing exposure to those interests.
• Timeline note: The promissory note matures late in 2026 (Dec. 26), so investors should watch for collection or further disclosures about repayment.