Acquisitions/Dispositions

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Acquisitions/Dispositions

Acquisitions/Disposition

In March 2017, the Company acquired an 89.5% ownership interest for $73.3 million in a company engaged in providing textile solutions world-wide. The fair value of the assets acquired and liabilities assumed have been estimated based on a third party valuation.

The following table summarizes the estimated fair value of net assets acquired and liabilities assumed for the business combination completed in 2017:

(In thousands)	2017
Cash and cash equivalents	$	2,721
Real estate, furniture and equipment	7,042
Goodwill	28,522
Intangible assets	32,395
Other assets	9,862
Total assets acquired	80,542
Other liabilities assumed	(2,251		)
Noncontrolling interest	(5,000		)
Net assets acquired	$	73,291

In February 2016, the Company acquired an 85% ownership interest for $42.3 million in a company engaged in the distribution of promotional merchandise.