SunOpta receives ISS, Glass Lewis backing for $6.50 per share Refresco deal

SunOpta Inc. (NASDAQ: STKL) announced that proxy advisory firms Institutional Shareholder Services Inc. and Glass, Lewis & Co. have recommended shareholders vote in favor of the company's proposed acquisition by an affiliate of Refresco Holding B.V.

Under the definitive agreement announced previously, Refresco will acquire SunOpta for $6.50 per share in cash. The transaction requires approval from SunOpta shareholders and the Ontario Superior Court of Justice, along with other customary closing conditions.

SunOpta's board of directors has unanimously determined the arrangement is fair to shareholders and in the company's best interests, recommending a "FOR" vote at the special shareholder meeting scheduled for April 16, 2026 at 10:00 a.m. Eastern Time.

The Minneapolis-based supply chain solutions provider operates across North America, serving brands, retailers and foodservice providers with beverages, broths and snack products. SunOpta has been in business for over 50 years.

Shareholders must submit proxy votes by April 14, 2026 at 10:00 a.m. Eastern Time. The company has engaged Sodali & Co as its shareholder communications advisor and proxy solicitation agent for the transaction.

The closing of the acquisition remains subject to regulatory approvals and other standard conditions. SunOpta filed its management information circular and proxy statement with securities regulators on March 18, 2026.

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