Keurig Dr Pepper Expands Non-Alcohol Portfolio As CEO Exits Under A Cloud


Amid an abrupt change of command in its executive suite, Keurig Dr Pepper has expanded its non-alcohol beverage holdings with a minority investment in Texas-based Athletic Brewing Co.

When the deal was announced yesterday, a news release quoted Keurig Dr Pepper executive chairman Bob Gamgort instead of CEO Ozan Dokmecioglu.

Today, the company announced that Dokmecioglu had agreed to resign as CEO and a member of the company’s board of directors, “due to violations of the company’s code of conduct that were unrelated to strategy, operations or financial reporting.”

Dokmecioglu became CEO in July to replace Gamgort after holding the positions of CFO and president of Keurig Dr Pepper’s international division.

Dokmecioglu was appointed CFO of Keurig Green Mountain in 2016 two years before the company merged with Dr Pepper Snapple.



In announcing the $50 million investment in Athletic Brewing, Keurig Dr Pepper described the company as the leading non-alcoholic craft beer maker.

“We look forward to partnering with the Athletic Brewing team to help them scale the business," Gamgort said in a news release.

Founded in 2017, Athletic Brewing also focused on future expansion.

“This investment will enable Athletic Brewing to further accelerate our growth across North America," said founder and CEO Bill Shufelt.

Last month, Athletic Brewing disclosed that it had gained distribution in more than 300 Tesco grocery and general merchandise stores in the United Kingdom.

This summer, Keurig Dr Pepper reached a deal to acquire the global distribution rights to the non-alcoholic, ready-to-drink cocktail brand Atypique from Quebec-based Station Agro-Biotech.

Next story loading loading..