Netherlands-based Refresco said Friday it has agreed to acquire Minnesota-based SunOpta in an all-cash deal valuing the U.S.-listed company at $6.50 per share, or roughly $768 million, in a deal steered by at least five law firms.

Faegre Drinker Biddle & Reath LLP and Davies Ward Phillips & Vineberg LLP are SunOpta's legal counsel. Wildeboer Dellelce LLP is representing a SunOpta special committee. Simpson Thacher & Bartlett LLP and Bennett Jones LLP are legal advisers to Refresco.

The transaction, approved unanimously by both companies' boards, will be completed through a court-approved plan of arrangement under Canada's Business Corporations Act and is expected to close in the second quarter of 2026, subject to regulatory, court and shareholder approvals, according to a deal announcement.

Upon closing, SunOpta, which is incorporated in Canada, will become a wholly owned subsidiary of Refresco and its shares will no longer trade publicly.

SunOpta provides supply chain solutions for beverages, broths and snacks across North America, while Refresco is a global beverage solutions provider with operations in North America, Europe and Australia.

Lazard is advising SunOpta and provided a fairness opinion to its board. Scotiabank is advising SunOpta's special committee and also delivered a fairness opinion. Refresco is being advised by Morgan Stanley.

Financing for the acquisition has been committed by Morgan Stanley Senior Funding and KKR Capital Markets.

The Skadden team is led by partners Daniel Luks and Sean Doyle.

The Simpson Thacher team is led by partners Breen Haire, Shamus Crosby and David Bumgardner.

Additional deal team information was not available by press time.