Refresco has agreed to acquire SunOpta Inc. in a deal that values the company at roughly $1 billion (US$785 million). The transaction brings together one of the world’s largest independent beverage manufacturers with a major North American supply chain solutions provider.
SunOpta provides customized supply chain services and product innovation for major brands, retailers and foodservice operators, with a portfolio that includes beverages, broths and better-for-you snacks.
Refresco, headquartered in the Netherlands, produces a wide range of beverages, including carbonated soft drinks, juices, ready-to-drink teas, mineral waters, energy and sports drinks, and plant-based beverages. Its products are packaged in formats such as cartons, aseptic PET, cans and glass.
“The acquisition of SunOpta is highly complementary and significantly broadens our position in the fast-growing plant-based beverages category,” Refresco CEO Steve Presley said in a press release. “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. Acquiring SunOpta enables us to further expand our offerings to our existing retailer and branded customers, while adding leading out‑of‑home customers and capabilities to Refresco that are aligned with our long-term value creation strategy.”
“This strategic combination validates our vision of transforming SunOpta into a premier solutions partner in the high-growth better-for-you food and beverage space,” said SunOpta CEO Brian Kocher. “Over the past several years, we've built exceptional platforms serving marquee customers and consistently delivering double-digit growth while maintaining the highest food safety and quality standards. This partnership with Refresco provides the resources and scale to unlock SunOpta's full potential.”
On the SunOpta side, Davies Ward Phillips & Vineberg LLP and Faegre Drinker Biddle & Reath LLP are serving as legal counsel, with Lazard acting as financial advisor. Wildeboer Dellelce LLP is legal counsel to the SunOpta Special Committee, with Scotiabank as its financial advisor.
Refresco is being advised by Bennett Jones LLP and Simpson Thacher & Bartlett LLP as legal counsel. Morgan Stanley & Co. LLC is acting as exclusive financial advisor, while Morgan Stanley Senior Funding, Inc. and KKR Capital Markets LLC have provided committed financing for the transaction.
The deal is expected to close in the second quarter of 2026, subject to customary closing conditions.
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