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M&A / Property

Refresco to Acquire SunOpta for $6.50 Per Share in Cash

By The Northwire Desk — AI Analysis Feb 06, 2026 · 08:30 SOY · 6.65 SUNOPTA, INC.
SOY · Price

Executive Summary

  • Refresco announced a definitive agreement to acquire SunOpta Inc. for cash at $6.50 per share, pending shareholder, court and regulatory approvals.
  • The transaction will be effected via a court‑approved plan of arrangement under the Canada Business Corporations Act and is expected to close in Q2 2026.
  • Upon closing, SunOpta will become a wholly‑owned subsidiary of Refresco and its shares will be delisted from NASDAQ and TSX; SunOpta will suspend earnings calls and guidance.

Key Details

  • Purchase Price: $6.50 cash per SunOpta share.
  • Structure: Statutory court‑approved plan of arrangement (Canada).
  • Closing Timeline: Expected Q2 2026, subject to customary closing conditions (court, regulatory approvals, SunOpta shareholder approval).
  • Board Approval: Unanimously approved by the boards of Refresco and SunOpta.
  • Financing: Morgan Stanley Senior Funding, Inc. and KKR Capital Markets LLC have provided committed financing for the transaction (terms not disclosed).
  • Advisors – SunOpta: Lazard (financial advisor, fairness opinion), Faegre Drinker Biddle & Reath LLP & Davies Ward Phillips & Vineberg LLP (legal counsel), Scotiabank (special committee financial advisor, fairness opinion).
  • Advisors – Refresco: Morgan Stanley & Co. LLC (exclusive financial advisor), Simpson Thacher & Bartlett LLP & Bennett Jones LLP (legal advisors).
  • Post‑Closing Status: SunOpta will be a wholly owned subsidiary; its common stock will cease trading; quarterly earnings conference calls are suspended and no further guidance will be provided.
  • Shareholder Process: SunOpta to file proxy circular with SEC and Canadian regulators; special meeting of shareholders anticipated March 2026 (circular mailing) with the meeting expected in April 2026.

Notable Quotes

“SunOpta represents an exceptional strategic addition to our portfolio… The acquisition … significantly broadens our position in the fast‑growing plant‑based beverages category.” – Steve Presley, CEO, Refresco

“This strategic combination validates our vision of transforming SunOpta into a premier solutions partner… I’m incredibly proud of what our team has accomplished and excited about the opportunities ahead.” – Brian Kocher, CEO, SunOpta

Read the original news release →

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