SunOpta gets ISS, Glass Lewis support for Refresco deal

Executive Summary

• Leading independent proxy advisory firms, ISS and Glass Lewis, have both recommended that SunOpta shareholders vote "FOR" the proposed acquisition by an affiliate of Refresco Holding B.V.
• The acquisition involves Refresco purchasing SunOpta for $6.50 (U.S.) per share in cash.
• The transaction is subject to shareholder approval at a special meeting scheduled for April 16, 2026, and approval by the Ontario Superior Court of Justice.

Key Details

• Proxy Recommendations: Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. issued favorable recommendations for the proposed acquisition.
• Acquisition Price: $6.50 (U.S.) per share in cash.
• Acquirer: An affiliate of Refresco Holding B.V.
• Shareholder Meeting: Scheduled for April 16, 2026, at 10 a.m. ET via live audio webcast.
• Proxy Cut-off: April 14, 2026, at 10 a.m. Eastern Time.
• Board Recommendation: SunOpta’s board of directors unanimously recommends voting for the arrangement, deeming it fair to shareholders and in their best interests.
• Closing Conditions: Subject to shareholder approval, Ontario Superior Court of Justice approval, and satisfaction/waiver of customary closing conditions.
• Shareholder Assistance:
  • Proxy/Voting Questions: Sodali & Co. (1-833-830-8285 NA / 1-289-695-3075 International; [email protected]).
  • Share Deposit/Letter of Transmittal: TSX Trust Company (1-866-600-5855 NA / 1-416-342-1090 International; [email protected]).