Refresco accelerates its plant-based operations and strengthens its North American presence with the acquisition of SunOpta. The Dutch group has signed a definitive agreement to acquire the U.S. manufacturer for $6,50 per share in cash, an operation that will lead SunOpta to exit the stock exchange and become a 100% subsidiary of Refresco.
The transaction, unanimously approved by the boards of directors of both companies, is expected to close in the second quarter of 2026, subject to customary regulatory approvals, the judicial approval required under Canadian law, and the approval of SunOpta shareholders. In anticipation of the closing, the U.S. company will suspend quarterly conference calls and financial guidance.
From an industrial point of view, the deal combines two models strongly oriented towards co-manufacturingRefresco is a leading global independent beverage producer for brands and retailers, with a portfolio ranging from soft drinks and juices to RTD teas and plant-based beverages. SunOpta operates as a supply chain and manufacturing solutions provider for "better-for-you" beverages, broths, and snacks, serving a diverse customer base across retail, foodservice, and e-commerce.
Steve Presley, CEO of Refresco and a former Nestlé executive, emphasized that SunOpta represents “an exceptional strategic addition” and that the acquisition “significantly expands our position in plant-based beverages, while strengthening our capabilities and presence in North America and making the group’s geographic footprint more balanced.”
According to Presley, the integration will also allow the offering to be expanded to retail and branded customers already served by Refresco, adding expertise and relationships in the out-of-home channel, increasingly considered central to long-term growth strategies.
On the SunOpta side, CEO Brian Kocher spoke of an operation that “validates the company's transformation path into a reference partner in value-added food & beverage solutions”, highlighting the double-digit growth recorded in recent years and the attention to food safety and quality.
On the financial side, Refresco relies on a pool of top-tier advisors. Morgan Stanley is acting as the exclusive advisor to the Dutch group, while the financing of the transaction is also supported by KKR Capital Markets. SunOpta was advised by Lazard, with a fairness opinion supporting the board.
The operation is part of a phase of consolidation of the functional and plant-based beverage sector, where industrial scale, production flexibility and the ability to serve multi-channel customers become decisive levers for competing in an increasingly selective market.
