Soft-drinks Major Refresco Buys Sunopta In Plant-based Push

SunOpta firm logo. Credit: rafapress / Shutterstock.com

Refresco has swooped to bargain US food-and-beverage group SunOpta successful a bid to bolster its business successful nan plant-based drinks market.

Steve Presley, nan precocious installed Refresco CEO, described SunOpta arsenic “an exceptional strategical summation to our portfolio”.

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Netherlands-based Refresco, which manufactures a scope of soft drinks from soda and beverage to juices and plant-based beverages, is paying $6.50 a stock for SunOpta, nan companies announced coming (6 February).

SunOpta, listed successful nan US and Canada, manufactures a scope of beverages, broths and snacks. The thrust of some companies’ business models is co-manufacturing.

Presley, nan erstwhile Nestlé executive who was appointed Refresco CEO successful August, said: “The acquisition of SunOpta is highly complementary and importantly broadens our position successful nan fast-growing plant-based beverages category. It further enhances our existing North American beingness and capabilities, supporting a much balanced geographic footprint betwixt North America and nan remainder of nan world.”

He added: “Acquiring SunOpta enables america to further grow our offerings to our existing retailer and branded customers, while adding starring out-of-home customers and capabilities to Refresco that are aligned pinch our semipermanent worth creation strategy.”

The boards of some companies person approved nan deal, which nan businesses said is expected to adjacent successful nan 2nd quarter, taxable to customary closing conditions and SunOpta shareholder approval. Refresco is mostly owned by private-equity patient KKR.

Brian Kocher, SunOpta’s CEO, said nan waste “provides nan resources and standard to unlock SunOpta’s afloat potential”.

He added: “This strategical operation validates our imagination of transforming SunOpta into a premier solutions partner successful nan high-growth, better-for-you, nutrient and beverage space. Over nan past respective years, we’ve built exceptional platforms serving marquee customers and consistently delivering double-digit maturation while maintaining nan highest nutrient information and value standards.”