Business
Keurig Dr Pepper to buy Peet’s coffee for $18bn
Bloomberg/Getty ImagesUS drinks giant Keurig Dr Pepper has agreed to buy Dutch coffee firm JDE Peet’s for €15.7bn (£13.6bn, $18.4bn) in the largest European acquisition in more than two years.
The companies plan to split into two US-listed firms after the merger, with one focused on coffee brands including Douwe Egberts and L’Or – while the other will sell soft drinks such as Schweppes, Snapple and 7 Up.
Executives said the purchase was intended to create a “resilient and diversified” coffee business, forming a “global coffee champion” at a time when the industry is grappling with tariffs and high prices for coffee beans.
And Keurig Dr Pepper boss Tim Cofer said it was “the right time” for the transaction.
But shares in the firm sank more than 7% after the deal was announced amid concerns it was backing away from the strategy which created the US drinks behemoth – a merger between Dr Pepper’s soda business and Green Mountain Coffee.
At the time, executives said they saw advantages in combining the distribution network, but it has struggled to deliver on that promise.
Last month, Keurig Dr Pepper executives told investors they expected growth in its coffee business to remain “subdued” this year, in part citing the hit from tariffs in the US, its most important market.
The new general soft drink business will be based in Texas and led by Mr Cofer.
Meanwhile the new merged coffee company, headquartered separately in Massachusetts, will boast a portfolio of brands representing $16bn in annual sales.
Executives said it would benefit from a global manufacturing footprint of more than 40 facilities.
Jacobs Douwe Egberts merged with Peet’s in 2019, creating JDE Peet’s, which was taken public the next year.
But the firm struggled to live up to expectations at a time when droughts in major coffee producing countries such as Brazil and Vietnam have driven up prices of raw coffee.
Earlier this year, it clashed with retailers in Europe over price increases, though it recently told investors it had resolved most of those disputes.
The deal values JDE Peet’s shares at €31.85 apiece, about 20% higher than the price they fetched before reports of the deal started to circulate last week, though still below their 2020 peak.
The gains are a boon for JAB Holding Co, the investment firm owned by the German Reimann family, which held nearly 70% of the voting power in JDE Peet’s.
It also owns about 4% of Keurig Dr Pepper.
The Oil and Gas Regulatory Authority (OGRA) has approved a fresh increase in the price of liquefied petroleum gas (LPG), raising the cost for both domestic consumers and commercial users.
According to the notification issued, the LPG price has been increased by Rs7.39 per kilogram, setting the new rate at Rs209 per kg for December. As a result, the price of a domestic LPG cylinder has risen by Rs87.21, bringing the new price to Rs2,466.10.
In November, the price of LPG stood at Rs201 per kg, while the domestic cylinder was priced at Rs2,378.89.
The latest price hike is expected to put additional pressure on households already grappling with rising living costs nationwide.
Business
Private sector data: Over 2 lakh private companies closed in 5 years; govt flags monitoring for suspicious cases – The Times of India
NEW DELHI: The government on Monday said that over the past five years, more than two lakh private companies have been closed in India.According to data provided by Minister of State for Corporate Affairs Harsh Malhotra in a written reply to the Lok Sabha, a total of 2,04,268 private companies were shut down between 2020-21 and 2024-25 due to amalgamation, conversion, dissolution or being struck off from official records under the Companies Act, 2013.Regarding the rehabilitation of employees from these closed companies, the minister said there is currently no proposal before the government, as reported by PTI. In the same period, 1,85,350 companies were officially removed from government records, including 8,648 entities struck off till July 16 this fiscal year. Companies can be removed from records if they are inactive for long periods or voluntarily after fulfilling regulatory requirements.On queries about shell companies and their potential use in money laundering, Malhotra highlighted that the term “shell company” is not defined under the Companies Act, 2013. However, he added that whenever suspicious instances are reported, they are shared with other government agencies such as the Enforcement Directorate and the Income Tax Department for monitoring.A major push to remove inactive companies took place in 2022-23, when 82,125 companies were struck off during a strike-off drive by the corporate affairs ministry.The minister also highlighted the government’s broader policy to simplify and rationalize the tax system. “It is the stated policy of the government to gradually phase out exemptions and deductions while rationalising tax rates to create a simple, transparent, and equitable tax regime,” he said. He added that several reforms have been undertaken to promote investment and ease of doing business, including substantial reductions in corporate tax rates for existing and new domestic companies.
Pakistan’s textile exports surged to $6.4 billion during the first four months of the 2025-26 fiscal year, marking the highest trade volume for the sector in this period.
According to the Pakistan Bureau of Statistics (PBS), value-added textile sectors were key contributors to the growth.
Knitwear exports reached $1.9 billion, while ready-made garments contributed $1.4 billion.
Significant increases were observed across several commodities: cotton yarn exports rose 7.74% to $238.9 million, and raw cotton exports jumped 100%, reaching $2.6 million from zero exports the previous year.
Other notable gains included tents, canvas, and tarpaulins, up 32.34% to $53.48 million, while ready-made garments increased 5.11% to $1.43 billion.
Exports of made-up textile articles, excluding towels and bedwear, rose 4.17%, totaling $274.75 million.
The report also mentioned that the growth in textile exports is a result of improved global demand and stability in the value of the Pakistani rupee.
UK budget mildly deflationary; debt to climb past 106%: Fitch
OGRA Announces LPG Price Increase for December – SUCH TV
Richie Moriarty on season 5 of "Ghosts," his character and the cast: "We really are a family"
-
Sports1 week agoWATCH: Ronaldo scores spectacular bicycle kick
-
Entertainment1 week agoWelcome to Derry’ episode 5 delivers shocking twist
-
Politics1 week agoWashington and Kyiv Stress Any Peace Deal Must Fully Respect Ukraine’s Sovereignty
-
Business1 week agoKey economic data and trends that will shape Rachel Reeves’ Budget
-
Tech6 days agoWake Up—the Best Black Friday Mattress Sales Are Here
-
Politics1 week ago53,000 Sikhs vote in Ottawa Khalistan Referendum amid Carney-Modi trade talks scrutiny
-
Fashion1 week agoCanada’s Lululemon unveils team Canada kit for Milano Cortina 2026
-
Tech1 day agoGet Your Steps In From Your Home Office With This Walking Pad—On Sale This Week