The acquisition was approved unanimously by Keurig's board, including its largest stakeholder Coca-Cola, which owns 17.4 percent, Keurig said.
The JAB Holding-led group of investors will buy Keurig for $92 per share in cash, in a deal valued at $13.9 billion. That represents a premium of nearly 80 percent over Keurig's closing stock price of $51.70 on Friday.
The stock has fallen sharply over the past 12 months, from $131.70 on 8 December 2014.
The transaction is expected to close during the first quarter of 2016. After the acquisition, the company will be operated independently and remain headquartered in Waterbury, Vermont.
The JAB team of minority investors include US giant Mondelez International and affiliates of BDT Capital Partners.
JAB Holding manages the fortune of the rich Reimann family of Germany and hold stakes in cosmetics company Coty, luxury shoemaker Jimmy Choo, and Jacobs Douwe Egberts, a Netherlands-based global coffee giant.
JAB also owns controlling stakes in Peet's Coffee & Tea and Caribou Coffee Company and coffee chain shops in Europe.
Shares in Keurig soared 74.8 percent to $90.35 in pre-market trade.
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