SunOpta is a contract manufacturer and supply chain solutions provider focused on plant-based beverages, broths, and better-for-you snacks. Rather than selling its own brands, SunOpta manufactures products to customer specifications for grocery retailers, club stores, foodservice chains, and branded food companies. Its two core product lines are plant-based beverages and broths — including oat, almond, soy, coconut, and rice milks — and fruit-based snacks. SunOpta uses aseptic processing and Tetra Pak packaging across a national network of manufacturing facilities, and claims its products are featured in 8 of the top 10 coffee chains in North America. The fruit snacks segment has grown to roughly 20% of total revenue. SunOpta's business model is volume-driven: more units produced spreads fixed costs across a larger base, improving margins. SunOpta passes commodity and tariff cost changes through to customers, typically with a one-to-two-month lag. Growth comes primarily from existing customers gaining share in their own markets, supplemented by new co-manufacturing relationships. SunOpta is expanding capacity by adding new production lines at its Midlothian, Texas and Omak, Washington facilities, with both projects expected online in late 2026. SunOpta's top 10 customers account for roughly 84% of revenue, and sales are almost entirely U.S.-based. Capital allocation priorities are deleveraging first, growth capex second, and opportunistic share repurchases third.