Subsequent Event |
12 Months Ended |
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Jun. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Completion of the Sale of Assets On July 15, 2016, the Company completed the sale of certain property, including the Company’s former headquarters, located at 20333 S. Normandie Avenue, Torrance, CA 90502 (the "Torrance Property"), consisting of approximately 665,000 square feet of buildings located on approximately 20.33 acres of land, for an aggregate cash sale price of $43.0 million. The Company received net proceeds of $42.5 million from the sale of the Torrance Property, after customary adjustments for closing costs and documentary transfer taxes. Asset Purchase Agreement On September 9, 2016, a newly-formed, wholly-owned subsidiary of the Company, as the Buyer, and China Mist Brands, Inc., dba China Mist Tea Company ("China Mist"), as the Seller, entered into a definitive agreement to purchase substantially all of the assets and certain specified liabilities of China Mist, a provider of flavored iced teas and iced green teas, for an aggregate purchase price of $11.3 million, with $10.8 million to be paid in cash at closing and $0.5 million to be paid as earnout subject to certain conditions. The transaction is expected to close during the second quarter of fiscal 2017. |