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Keurig Dr Pepper CEO Is Looking at Deals Worth Up to $20 Billion

  • Company expects to generate $4 billion in free cash flow
  • Soft drink maker confirms sales, profit forecasts for 2021
Bottles of Keurig Dr Pepper Inc. soft drinks for sale at a grocery store in Louisville, Kentucky, U.S.
Photographer: Luke Sharrett/Bloomberg
Updated on

Keurig Dr Pepper Inc. has spent the past three years bringing together two of the world’s largest drinks businesses. Now that that job’s done, Chief Executive Officer Bob Gamgort is on the prowl for the company’s next target. 

After capital expenditures and dividend costs, the maker of soft drinks and Keurig coffee brewers will generate about $4 billion worth of cash over the next three years from growing its sales, Gamgort said in an interview. That translates into a budget for mergers and acquisitions of about five times that amount.