Acquisition (Tables)

4 Months Ended

Apr. 20, 2024

Business Combinations [Abstract]

Summary of Consideration Paid and Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for Papa Pita based on the fair value at the acquisition date. This table is based on the valuations for the assets acquired (the company did not acquire any cash), liabilities assumed, and the allocated intangible assets and goodwill (amounts in thousands):


Fair Value of consideration transferred:
Cash consideration paid		$	270,258
Working capital adjustments			4,497
Total consideration		$	274,755

Recognized amounts of identifiable assets acquired and liabilities assumed:
Property, plant, and equipment		$	104,118
Identifiable intangible assets			27,100
Financial assets			14,250
Liabilities assumed			(5,365	)
Net recognized amounts of identifiable assets acquired			140,103
Goodwill		$	134,652

Schedule of Acquired Intangible Assets Subject to Amortization

The following table presents the acquired intangible assets subject to amortization (amounts in thousands, except amortization periods):


		Total				Weighted average amortization years				Amortization Method
Trademarks		$	4,600				20.0			Straight-line
Customer relationships			22,200				25.0			Sum of year digits
Noncompete agreements			300				4.0			Straight-line
Total intangible assets		$	27,100				23.9