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ACQUISITIONS
9 Months Ended
Jun. 30, 2015
ACQUISITIONS.  
ACQUISITIONS

 

4. ACQUISITIONS

        During the nine months ended June 30, 2015, the Company made two acquisitions of businesses. On November 18, 2014, the Company acquired certain operating assets of Agape Health Products. On June 4, 2015, the Company acquired certain operating assets of ProClay, LLC. The aggregate purchase price of these acquisitions was $1,266 in cash.

        During the nine months ended June 30, 2014, the Company made six acquisitions of businesses. On October 16, 2013, the Company acquired certain operating assets of TCCD International, Inc. On November 25, 2013, the Company acquired certain operating assets of Green Luxury Brands, Inc. On December 19, 2013, the Company acquired certain operating assets of Twinlab Corporation. On January 15, 2014, the Company acquired certain operating assets of Peachtree Natural Foods, Inc. On April 11, 2014, the Company acquired certain operating assets of Northwest Health Foods, Inc. On April 17, 2014, the Company acquired certain operating assets of Bio-Genesis Nutraceuticals, Inc. The aggregate purchase price of these acquisitions was $16,211 in cash.

        The Condensed Consolidated Statements of Comprehensive Income and the Condensed Consolidated Statements of Cash Flows presented herein include the activities of these acquired businesses from their respective dates of acquisition. The expected long-term sales and expense synergies of acquired businesses generally are not realized immediately following acquisition, as certain transition and integration matters must be completed.

        These acquisitions are in keeping with the Company's business strategy of consolidating the fragmented industry in which it competes. These acquisitions were accounted for using the acquisition method of accounting. Accordingly, the aggregate purchase price was assigned to the assets acquired based on their fair values at their respective dates of acquisition. The excess of aggregate purchase price over the fair values of the assets acquired was classified as goodwill. The goodwill relates to expected synergies from these acquisitions. The following reflects the final allocation of the aggregate purchase price for these acquisitions to the aggregate assets acquired:

                                                                                                                                                                                    

 

 

Fiscal 2015
Acquisitions

 

Fiscal 2014
Acquisitions

 

Aggregate assets acquired:

 

 

 

 

 

 

 

Current assets

 

$

111 

 

$

2,733 

 

Goodwill

 

 

762 

 

 

7,675 

 

Intangible assets

 

 

393 

 

 

5,803 

 

​  

​  

​  

​  

 

 

$

1,266 

 

$

16,211 

 

​  

​  

​  

​  

        The fiscal 2015 and fiscal 2014 acquired intangible assets totaling $393 and $5,803, respectively, related to trademarks, tradenames and customer relationships, and are being amortized over periods of two to twelve years for financial statement purposes. The fiscal 2015 and fiscal 2014 acquired intangible assets are expected to be deductible for tax purposes over fifteen years. Goodwill, which is not subject to amortization for financial statement purposes, of $762 for fiscal 2015 and $7,675 for fiscal 2014, is expected to be deductible for tax purposes over fifteen years.