SunOpta to go private at US$1.1 billion enterprise value

Davies is acting for SunOpta Inc., a provider of supply chain solutions for beverages, broths and snacks, in its US$1.1-billion enterprise value all-cash sale to Refresco, a global independent beverage solutions provider majority owned by KKR, by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

This strategic combination enhances Refresco's North American capabilities – supporting a more balanced geographic footprint between North America and the rest of the world – and provides SunOpta with increased scale and resources.

The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including shareholder, antitrust and court approvals.

The Davies team advising on the transaction includes Patricia Olasker, Kevin Greenspoon, Andrew Mihalik, Zach Hershenfeld and Sydney Rogul (Public M&A); Jim Dinning and Dajena Pechersky (Competition); Andrew Ellis and Ryan Wolfe (Tax); Seann McAleese (Employment); and Max Jarvie (IP/Privacy).