SunOpta (STKL) has agreed to be acquired by KKR-backed (KKR) Refresco for $6.50 per share in cash, the companies said Friday.

The deal, which has been unanimously approved by the boards of both companies, will be implemented through a court-approved plan of arrangement under Canadian law, the companies said.

The deal is expected to close in Q2, at which SunOpta will become a Refresco subsidiary and its shares will no longer be publicly traded, the companies said.