Keurig Dr Pepper said Monday it is buying the owner of Peet's Coffee for $18 billion (15.7 billion euro). Then it will break itself in two, with one company selling coffee and the other selling cold beverages like Snapple, Dr Pepper, 7UP and energy drinks.

Two of the world's biggest coffee firms are to combine as the industry grapples with tariffs and high prices for beans.

After the takeover, the company will split into two businesses, one focusing on coffee and one on soft drinks.