Keurig Dr Pepper to acquire CORE Nutrition at a value of $525 mln, or approx. $435 mln net of anticipated tax benefits
- CORE Nutrition is a premium enhanced beverage company founded in 2015 and allied with KDP since 2016. Its rapidly growing portfolio includes CORE Hydration, a premium, nutrient-enhanced bottled water, and CORE Organic, USDA-certified organic enhanced fruit hydration, both currently distributed by KDP.
- Net sales of all CORE beverages have grown at an average annualized rate of approx. 115% over the past three years, with current retail sales estimated in excess of $200 mln in the latest year.
- The acquisition will be funded with KDP common stock and is expected to be neutral to KDP's adj. diluted EPS in 2019 and accretive thereafter.
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