Keurig Dr Pepper completes $800 million Chobani stake exit, sells $125 million in assets

Keurig Dr Pepper closed its exit from Chobani on Monday, monetizing an equity stake and related assets for nearly $1 billion of disclosed consideration.

In an 8-K accepted after the close, the company said subsidiaries DPS Holdings Inc. and Mott’s LLP, with other affiliates, completed previously announced transactions with FHU US Holdings, LLC and affiliates (collectively, Chobani). The package included redemption of all of Keurig Dr Pepper’s indirect equity interests in Chobani for $800 million—$400 million in cash and a $400 million promissory note issued by Chobani to a company subsidiary that matures on December 26, 2026.

Separately, the filing says the parties completed the sale of certain assets, including the company’s leasehold interests in two facilities in Allentown, Pennsylvania, for $125 million in cash. Combined, the disclosed cash-and-note package totals $925 million before any adjustments not stated in the 8-K.

KDP shares closed Monday at $31.46, down about 1.5% from Friday’s close and up roughly 13.5% year to date.

By the numbers

• Chobani equity redemption: $800 million ($400 million cash + $400 million note)
• Note maturity: December 26, 2026
• Asset sale (incl. Allentown leaseholds): $125 million cash
• Combined disclosed consideration: $925 million
• KDP Monday close: $31.46 (−1.5% vs Friday; +13.5% YTD)

Sources

1. Keurig Dr Pepper Inc. Form 8-K (Item 8.01), accepted September 28, 2026 4:35:44 p.m. ET, accession 0001418135-26-000060

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