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US soft drink maker Dr. Pepper Snapple is to merge with coffee company Keurig Green Mountain to form Keurig Dr. Pepper.
The new beverage giant will bring together well-known brands such as Dr Pepper, Schweppes and Sunkist with Green Mountain Coffee Roasters.
Keurig Dr. Pepper will have a combined annual revenue of $11 billion.
Under the terms of the agreement, Dr. Pepper Snapple shareholders will retain 13 per cent of the combined company.
Dr. Pepper Snapple shareholders will also receive $103.75 per share in a special cash dividend.
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