Refresco has entered into a definitive agreement to acquire 100% of SunOpta for $6.50 per share in an all-cash transaction. The strategic rationale for the deal is to significantly bolster Refresco’s position in the fast-growing North American plant-based beverage market, utilizing SunOpta’s specialized aseptic manufacturing footprint as a platform for regional expansion. The acquisition is highly complementary, filling geographic gaps in Refresco’s US operations while adding advanced R&D and formulation capabilities in the plant-based milk and broth categories. Despite a temporary slowdown in US retail unit sales, the deal prioritizes SunOpta’s exceptional momentum in the foodservice channel, where it supplies eight of the top ten North American coffee chains. The transaction allows for faster operational remediation and margin normalization under private ownership, shielding the business from public-market reporting constraints. This move consolidates Refresco's shift toward value-added, less-commoditized beverage models on a global scale.

KKR acquired a majority stake in Refresco from PAI Partners and British Columbia Investment Management Corporation (BCI). This transaction marks the exit of PAI and BCI after a highly successful four-year holding period, during which the group's enterprise value nearly doubled. Under PAI's ownership, Refresco completed significant acquisitions, including Cott's bottling activities and various regional players, solidifying its position as a global leader.

Refresco acquired 100% of DIS. This transaction was highly strategic as it focused on "Canning"—a packaging format experiencing double-digit growth driven by the surge in energy drinks and craft sodas. The deal allowed Refresco to add approximately 800 million cans to its annual production capacity and secure a state-of-the-art facility in a prime logistical location.