Acquisition (Tables)

3 Months Ended

Sep. 30, 2018

Business Acquisition [Line Items]

Business Acquisition, Schedule of Financial Information of Acquired Entity [Table Text Block]

The following table presents the net sales and income before taxes from the Boyd Business operations that are included in the Company’s condensed consolidated statement of operations for the three months ended September 30, 2018 (unaudited):

(In thousands)	Three Months Ended
	September 30, 2018
Net sales	$	20,503
Income before taxes	$	711

Business Acquisition, Pro Forma Information [Table Text Block]

The following table sets forth certain unaudited pro forma financial results for the Company for the three months ended September 30, 2018 and 2017, as if the acquisition of the Boyd Business was consummated on the same terms as of the first day of the applicable fiscal period.

	Three Months Ended September 30,
	2018			2017
(In thousands)
Net sales	$	147,440		$	153,695
(Loss) income before taxes	$	(4,273	)	$	1,758

Boyd Coffee [Member]

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the final allocation of consideration transferred as of the acquisition date:

(In thousands)	Fair Value			Estimated Useful Life (years)
Cash paid	$	38,871
Holdback Cash Amount	3,150
Multiemployer Plan Holdback	1,056
Fair value of Series A Preferred Stock (14,700 shares)(1)	11,756
Fair value of Holdback Stock (6,300 shares)(1)	4,825
Estimated post-closing working capital adjustment	(8,059		)
Total consideration	$	51,599
Accounts receivable	$	7,503
Inventory	9,415
Prepaid expense and other assets	1,951
Property, plant and equipment	4,936
Goodwill	25,395
Intangible assets:
Customer relationships	16,000			10
Trade name/trademark—indefinite-lived	3,100
Accounts payable	(15,080		)
Other liabilities	(1,621		)
Total consideration	$	51,599

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(1) Fair value of Series A Preferred Stock and Holdback Stock as of the Closing Date, estimated as the sum of (a) the present value of the dividends payable thereon and (b) the stated value of the Series A Preferred Stock or Holdback Stock, as the case may be, adjusted for both the conversion premium and the discount for lack of marketability arising from conversion restrictions.