Dutch beverage giant Refresco has agreed to acquire US plant-based food and drink company SunOpta in a $1.1B deal, which is set to complete in Q2 2026. The all-cash deal will see Refresco pay $6.50 per share for SunOpta, totaling an equity value of $829M. This acquisition will expand Refresco's North American presence and allow the company to enter new categories and foodservice markets, boosting its portfolio with SunOpta's range of plant-based milks and snacks.

SunOpta, known for its portfolio of over 300 plant-based products, saw revenue growth of nearly 17% in Q3 2025 despite a decline in the US plant-based milk market. This acquisition will position SunOpta to meet growing demand and gain access to resources and scale to further grow its business. The move reflects the ongoing consolidation in the alternative protein industry, with multiple companies in the sector engaging in M&A deals to strengthen their positions in the market.