Refresco to acquire SunOpta to expand plant‑based beverage capabilities

Refresco has agreed to acquire SunOpta in a deal that significantly strengthens its position in the fast‑growing plant‑based beverages category, marking one of the most notable strategic consolidations in the North American beverage supply chain this year.

Under the terms of the definitive agreement, Refresco will purchase SunOpta for $6.50 per share in cash, valuing the Minnesota‑based company at approximately $1.1 billion. The transaction has been unanimously approved by both companies’ boards and is expected to close in the second quarter of 2026, pending customary regulatory approvals.

Refresco CEO Steve Presley described the acquisition as “an exceptional strategic addition” that aligns with the company’s long‑term growth strategy to expand into adjacent beverage categories. He emphasised that SunOpta’s portfolio – spanning plant‑based beverages, broths, and fruit‑based products – offers strong complementarity with Refresco’s global manufacturing footprint. The deal is expected to broaden Refresco’s presence in North America while accelerating its capabilities in the high‑growth plant‑based segment.

SunOpta, known for its “better‑for‑you” product portfolio and vertically integrated supply chain, will become a wholly owned subsidiary of Refresco once the transaction closes. The move will also take SunOpta private, removing it from public markets.

Industry analysts note that the acquisition reflects intensifying competition in plant‑based beverages, where demand continues to surge across retail, foodservice, and co‑manufacturing channels. By combining SunOpta’s category expertise with Refresco’s scale and customer network, the companies aim to capture a larger share of this expanding market.

The deal also underscores a broader trend of consolidation in the beverage and ingredients sector, where scale, supply chain resilience, and category diversification are increasingly critical. Refresco’s acquisition of SunOpta positions the company to meet rising customer demand for cleaner‑label, plant‑forward formulations while expanding its North American capabilities.

Photo by Denys Gromov