Refresco has announced its acquisition of US food-and-beverage company SunOpta, aiming to enhance its presence in the plant-based drinks sector.
Refresco’s newly appointed CEO, Steve Presley, expressed that SunOpta is “an exceptional strategic addition to our portfolio.”
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Based in the Netherlands, Refresco, which produces a diverse range of soft drinks including sodas, teas, juices, and plant-based beverages, will acquire SunOpta at a price of $6.50 per share, as announced today (February 6).
SunOpta, which is publicly traded in the US and Canada, manufactures a variety of beverages, broths, and snacks. Both companies focus on co-manufacturing as a central part of their business models.
Presley, who previously held executive roles at Nestlé, indicated that “the acquisition of SunOpta is highly complementary and significantly broadens our position in the fast-growing plant-based beverages category.” He noted that the acquisition enhances their existing capabilities in North America, ultimately supporting a more balanced global footprint.
He further elaborated, “Acquiring SunOpta allows us to expand our product offerings to our retailer and branded customers while bringing leading out-of-home customers and resources that align with our long-term value creation strategy.”
Both companies’ boards have approved the acquisition, expected to conclude in the second quarter, contingent upon standard closing conditions and shareholder approval from SunOpta. Refresco is primarily owned by the private-equity firm KKR.
Brian Kocher, CEO of SunOpta, stated that the sale “provides the resources and scale to unlock SunOpta’s full potential.” He added that this strategic merger underscores their vision of transforming SunOpta into a leading solutions partner in the high-growth, better-for-you food and beverage market. He emphasized their commitment to exceptional platforms that serve prestigious customers while delivering consistent double-digit growth and upholding the highest standards of food safety and quality.
Key Takeaways
- Refresco acquires SunOpta to strengthen its plant-based beverage offerings.
- Steve Presley describes SunOpta as a strategic asset for growth.
- The acquisition aims to balance Refresco’s global operations.
- The deal is expected to close in the second quarter, subject to approvals.
- Both companies emphasize co-manufacturing in their business models.
FAQ
Why did Refresco acquire SunOpta?
Refresco aims to enhance its presence in the plant-based beverage market and expand its product offerings.
What is the acquisition price for SunOpta?
Refresco is acquiring SunOpta at a price of $6.50 per share.
When is the acquisition expected to close?
The acquisition is expected to close in the second quarter, pending approvals.
What does this acquisition mean for SunOpta?
The acquisition is seen as a way to unlock SunOpta’s full potential and enhance its capabilities in the market.
