

NOTE 16:	ACQUISITION

On November 7, 2016, the Company acquired 100% controlling interest in the George Remus^® brand business from Queen City Whiskey LLC in a taxable purchase transaction. The results of the George Remus^® brand business since that date have been included in the Company's consolidated financial statements. As a result of the acquisition, the Company is expected to expand the distribution of the George Remus^® brand products. It also expects to reduce costs through economies of scale. The goodwill and other intangible asset of $1,850 arising from the acquisition relates to the synergies and those cost reductions. The aggregate noncontingent portion of the purchase price was $1,551 and was paid in cash. The purchase price also included a contingent consideration arrangement with a fair value of $350. This fair value was based on significant inputs that are not observable and are referred to as Level 3 inputs. The contingent consideration to be paid is calculated on the excess sales over a base level through 2020 and is not limited in amount.

Summary of the consideration paid for the George Remus^® brand business and the estimated fair value of the assets acquired at the acquisition date:



Consideration:
Cash	$	1,551
Contingent consideration arrangement (included in Other non-current liabilities on the Consolidated Balance Sheets)	350
Fair value of total consideration transferred	$	1,901

Recognized amounts of identifiable assets acquired:
Inventory	$	51
Total identifiable net assets assumed	$	51
Goodwill and Brand name (indefinite lived) (included in Other assets on the Consolidated Balance Sheets) (Note 4)	1,850
Total	$	1,901