Business Acquisitions |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 02, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisitions |
Business acquisitions during the 26-weeks ended July 2, 2016 included the stock of Freshway Foods, a produce processor, repacker, and distributor company, and certain assets of Cara Donna, a broadline distributor. Total consideration consisted of cash of approximately $96 million, plus $6 million for the estimated value of contingent consideration. On December 31, 2015, the Company purchased Dierks Waukesha Wholesale Foods, Inc., a broadline distributor for cash of $69 million. The acquisitions, made in order to expand the Company’s presence in certain geographic areas, are integrated into the Company’s foodservice distribution network and were funded with cash from operations. In March 2016, approximately $1 million was received as a purchase price adjustment related to the 2015 business acquisition resulting in minimal decreases to Property and equipment- net and Goodwill. The following table summarizes the purchase price allocations for the 2016 and 2015 business acquisitions (in thousands):
The 2016 and 2015 acquisitions did not materially affect the Company’s results of operations or financial position and, therefore, pro forma financial information has not been provided. |