Dutch beverage giant Refresco is buying organic food and plant-based drink maker SunOpta in a deal valued at $1.1 billion.
Refresco is purchasing the manufacturer for $6.50 per share in cash. The transaction, expected to close in the second quarter of 2026, implies an equity value of $829 million for SunOpta and includes about $265.8 million of the company’s debt.
Sunopta manufactures plant-based beverages, broths and fruit snacks for brands and private label offerings. Adding Sunopta enhances Refresco’s North American presence and gives it an opportunity to expand into foodservice and “adjacent beverage categories,” CEO Steve Presley said in a statement.
“The acquisition of SunOpta is highly complementary and significantly broadens our position in the fast-growing plant-based beverages category,” said Presley, a former Nestlé executive. “It further enhances our existing North American presence and capabilities, supporting a more balanced geographic footprint between North America and the rest of the world.”
Privately-held Refresco has production facilities in North America, Europe and Australia. It manufactures soft drinks, juices, ready-to-drink teas and energy drinks. Adding SunOpta gives Refresco another entry point into the U.S. and more exposure with better-for-you snacks and beverages.
SunOpta hinted at a potential sale a decade ago, but in the years since has dabbled in product innovation and sold off its global ingredients business. Last year, it announced it was investing $25 million to expand its fruit snack business.
In SunOpta’s most recent earnings report, its revenue grew nearly 17% year over year to $205.4 million. However, its CEO Brian Kocher noted that customers were demanding “additional capacity at a rate and speed” the company hadn’t anticipated. It planned to create a new aseptic manufacturing line at its Texas facility to keep up.
