JAB BevCo B.V., a subsidiary of JAB Holding Company, announced it sold its remaining stake in Keurig Dr Pepper Inc. (NASDAQ: KDP) through an unregistered block trade executed by J.P. Morgan Securities LLC.

The transaction involved approximately 59.1 million shares, representing about 4.3% of KDP's outstanding common stock. Based on KDP's recent trading price, the sale was valued at approximately $3.4 billion.

The divestiture marks JAB's complete exit from Keurig Dr Pepper, a beverage company formed through the 2018 merger of Keurig Green Mountain and Dr Pepper Snapple Group. JAB had been a significant investor in the company since acquiring Keurig in 2016.

JAB stated it remains committed to its consumer investment platform and will continue focusing on building consumer businesses. The Luxembourg-based investment firm manages more than $70 billion in assets across consumer and life insurance businesses.

The company's current portfolio includes controlling stakes in beauty company Coty Inc., doughnut chain Krispy Kreme Inc., and restaurant company Panera Brands Inc., which operates Panera Bread, Caribou Coffee and Einstein Bros. Bagels. JAB also holds positions in veterinary services provider National Veterinary Associates and coffee chain Pret A Manger.