Business Acquisition (Tables)

6 Months Ended

Jul. 02, 2016

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed as at the acquisition date.

							$
Cash and cash equivalents							1,728
Accounts receivable⁽¹⁾							26,090
Inventories⁽²⁾							124,829
Income taxes recoverable							12,025
Other current assets							3,982
Property, plant and equipment⁽³⁾							46,068
Intangible assets⁽⁴⁾							170,000
Accounts payable and accrued liabilities							(24,169)
Long-term debt, including current portion							(7,620)
Deferred income taxes, net							(75,193)
Net identifiable assets acquired							277,740
Goodwill⁽⁵⁾							196,709
Non-controlling interest⁽⁶⁾							(1,781)
Net assets acquired							472,668

On August 11, 2015, the Company acquired the net operating assets of Niagara Natural Fruit Snack Company Inc. (“Niagara Natural”). Niagara Natural is a manufacturer of all-natural fruit snacks located in the Niagara Region of Ontario. The acquisition of the net operating assets of Niagara Natural has been accounted for as a business combination under the acquisition method of accounting. The results of Niagara Natural have been included in the Company’s consolidated financial statements since the date of acquisition and are reported in the Consumer Products operating segment.

The following table summarizes the fair values of the consideration transferred as at the acquisition date:

	Provisional Amounts Recognized as at the Acquisition Date	Measurement Period Adjustment⁽¹⁾	Final Amounts Recognized as at the Acquisition Date
	$	$	$
Cash	6,475	-	6,475
Working capital adjustment	237	(292)	(55)
Contingent consideration⁽²⁾	2,330	-	2,330
Total consideration transferred	9,042	(292)	8,750

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as at the acquisition date:

	Provisional Amounts Recognized as at the Acquisition Date	Measurement Period Adjustment⁽¹⁾	Final Amounts Recognized as at the Acquisition Date
	$	$	$
Current assets	2,220	(292)	1,928
Machinery and equipment	3,414	-	3,414
Intangible assets⁽²⁾	2,459	-	2,459
Current liabilities	(687)	-	(687)
Net identifiable assets acquired	7,406	(292)	7,114
Goodwill⁽³⁾	1,636	-	1,636
Net assets acquired	9,042	(292)	8,750

The following table summarizes the fair values of the consideration transferred as at the acquisition date:

								$
Cash								13,300
Working capital adjustment								(319)
Settlement of pre-existing relationship								749
Contingent consideration⁽¹⁾								18,000
Total consideration transferred								31,730

The following table summarizes the fair values of the assets acquired and liabilities assumed as at the acquisition date.

							$
Accounts receivable							2,351
Inventories							1,745
Machinery and equipment							164
Customer relationships intangible asset⁽¹⁾							14,000
Accounts payable and accrued liabilities							(1,666)
Net identifiable assets acquired							16,594
Goodwill⁽²⁾							15,136
Net assets acquired							31,730