Note 12

9 Months Ended

Jun. 29, 2013

Business Combination Disclosure [Text Block]

Business Combination Disclosure [Text Block]

Note 12           In June 2012, we acquired the assets of Kim & Scott’s Gourmet Pretzels, Inc., a manufacturer and seller of a premium brand soft pretzel. This business had sales of approximately $8 million over the prior twelve months to food service and retail supermarket customers and had sales of approximately $1.8 million in our 2012 fiscal year from the acquisition date.

This acquisition was and will be accounted for under the purchase method of accounting, and its operations are and will be included in the consolidated financial statements from the acquisition date.

The purchase price allocation for the Kim and Scott’s acquisition is as follows:

	(in thousands)
Working Capital	$	(89	)
Property, plant & equipment		724
Trade Names		126
Customer Relationships		235
Non Compete Agreement		75
Goodwill		6,829
Purchase Price	$	7,900

Acquisition costs of $155,000 for the Kim & Scott’s acquisition are included in other general expense in the consolidated statements of earnings for the year ended September 29, 2012.

The goodwill and intangible assets acquired in the business combination are recorded at fair value. To measure fair value for such assets, we use techniques including discounted expected future cash flows (Level 3 input).