Keurig Dr Pepper plans to spend $18 billion to buy the Dutch company JDE Peet’s. The firm will then split in two, separating its soft drink business from its coffee business entirely. This is just the latest chapter in a now decades-long corporate trend of spinning off disparate business segments into independent companies.

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

It bills itself as the world’s largest pure-play coffee and tea company and includes brands such as Peet’s, L’OR, Jacobs, Senseo, Tassimo, Douwe Egberts, Old Town, Super, Pickwick and Moccona. Keurig Dr. Pepper was formed in 2018 when the owners of Keurig Green Mountain coffee company acquired the Dr. Pepper Snapple Group.