Iconic Dutch coffee brand Douwe Egberts, owned by parent company, JDE Peet, has been bought by U.S.-based beverage manufacturer Keurig Dr Pepper.

The companies announced the acquisition in a joint press on Monday. Keurig Dr Pepper paid €15.7 billion for the Dutch company.

Founded in the Frisian village of Joure in 1753 by Douwe Egberts, the company began as a “shop for colonial goods” including coffee and tea.

After a series of mergers and acquisitions, the Douwe Egberts’s brand became part of JDE Peet’s, which also includes Senseo, Tassimo, and Pickwick. In 2024, the company generated 8.8 billion euros in worldwide revenue.

Keurig Dr Pepper includes soft drink brands Dr Pepper, 7UP, and Schweppes. The company also sells coffee, Green Mountain and Lavazza.

Together, the companies are expected to generate 16 billion euros in yearly revenue.