Keurig Dr Pepper is close to a roughly $18 billion deal to buy Dutch coffee company JDE Peet's, The Wall Street Journal reported on Sunday, citing people familiar with the matter.

After combining, the companies are planning to separate the beverage and coffee units, the report said.

Reuters couldn't immediately verify the report. Keurig Dr Pepper and JDE Peet's didn't immediately respond to requests for comment.

JDE Peet's, known for its L'Or, Tassimo, and Douwe Egberts brands, has a market valuation of about $15 billion, while Keurig Dr Pepper is valued at nearly $50 billion, according to London Stock Exchange Group data.

JDE Peet's lifted its annual forecasts last month after reporting consensus-beating half-year adjusted operating earnings of $831 million, thanks to sales growth that defied already-high coffee prices.

Last year, Keurig Dr Pepper bought a 60% stake in energy-drink maker Ghost for $990 million, planning to purchase the rest in 2028, to spruce up its refreshment beverages portfolio.