SunOpta (NASDAQ:STKL) has signed a definitive agreement to be acquired by Refresco in an all-cash transaction that values SunOpta at $6.50 per share, the companies announced Monday. The disclosure accompanied a notable run in the stock, which climbed 36.35% over the past week and was trading at $6.40, just shy of the agreed purchase price.
Data from InvestingPro indicate the $6.50 offer sits close to the stock's Fair Value estimate. The boards of directors at both SunOpta and Refresco have unanimously approved the deal. The companies are projecting a closing by the second quarter of 2026, with completion contingent on customary conditions, including regulatory approvals and shareholder consent.
Refresco, described by the companies as an independent beverage solutions provider serving global and local beverage brands across North America, Europe and Australia, will add SunOpta - a producer of plant-based foods and beverages - to its portfolio through the cash purchase.
Following the acquisition announcement, DA Davidson maintained a Buy rating on SunOpta and kept an $8.00 price target. The research firm characterized the transaction as "the logical outcome for STKL" and indicated it does not expect competing bids, given the boards' unanimous support for the agreement.
Separately, SunOpta updated its fiscal 2025 outlook after reporting a stronger-than-expected fourth quarter. The company raised its revenue guidance to a range of $816 million to $818 million, up from the prior range of $812 million to $816 million. SunOpta also lifted its adjusted EBITDA forecast to $94 million to $95 million, above the earlier projection of $90 million to $92 million.
The companies reiterated that the acquisition remains subject to customary closing conditions. Those conditions include regulatory reviews and approvals as well as the necessary shareholder approvals before the transaction can be finalized in the targeted second quarter of 2026.
Market and industry context
- Equity reaction - SunOpta shares rose sharply on the news, reflecting the market's response to the announced cash premium and the company's upgraded outlook.
- Strategic fit - The deal pairs Refresco's beverage manufacturing footprint with SunOpta's plant-based foods and beverage portfolio.
- Analyst positioning - DA Davidson's reaffirmation of a Buy rating and an $8.00 target signals continued analyst interest in SunOpta's value ahead of closing.
Closing considerations
While both boards have approved the transaction, the timing and completion remain conditioned on typical antitrust and regulatory processes and on shareholder approval. The companies have identified an expected close in the second quarter of 2026, but completion is not guaranteed until all customary conditions are satisfied.