v3.24.1.1.u2
Business Combination (Tables)
 9 Months Ended
Apr. 30, 2024
Business Combination and Asset Acquisition [Abstract]  
Schedule of Allocation of the Purchase Consideration to the Assets Acquired and Liabilities Assumed
The preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed as of the Closing Date is as follows:
(in thousands)Amount
Total purchase consideration
$317,464 
Assets acquired:
Inventories
$61,419 
Prepaid expenses and other current assets372 
Property and equipment, net244,780 
Intangible asset (Trade name)17,000 
Other assets246 
Total assets
$323,817 
Liabilities assumed:
Current liabilities$(2,848)
Due to related party (Note 13)
(953)
Deferred income taxes(60,959)
Other liabilities(202)
Total liabilities
$(64,962)
Goodwill$58,609 
Schedule of Information of Unaudited Pro Forma Condensed Consolidated Statement of Operations
For the three and nine months ended April 30, 2024 and 2023, the following table contains unaudited pro forma Condensed Consolidated Statement of Operations information of the Company as if the acquisition of Sonoma-Cutrer closed on August 1, 2022, the first day of Fiscal 2023.
Three months ended April 30,
Nine months ended April 30,
(in thousands)2024
2023
2024
2023
Net sales
$113,489 $118,182 $368,979 $370,788 
Net income
$20,932 $19,314 $65,655 $45,086