Acquisitions (Tables)

9 Months Ended

Sep. 27, 2014

Aimia Foods Holdings Limited [Member]

Business Combination Transfer Consideration

The total consideration paid by us for the Aimia Acquisition is summarized below:

(in millions of U.S. dollars)
Cash	$	80.4
Deferred consideration		33.5
Contingent consideration1		17.9
Working capital payment		7.2
Total consideration	$	139.0

1. Represents the estimated present value of the contingent consideration based on probability of achievement of performance targets recorded at fair value.

Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated allocation of the purchase price to the fair value of the assets acquired and liabilities assumed in connection with the Aimia Acquisition. The allocation of the purchase price is based on a preliminary valuation that is expected to be completed by the end of 2014.

	As reported at						As reported at
(in millions of U.S. dollars)	June 28, 2014			Adjustments			September 27, 2014
Cash	$	9.5		$	—		$	9.5
Accounts receivable		11.0			—			11.0
Inventories		9.6			—			9.6
Prepaid expenses and other assets		1.9			—			1.9
Property, plant & equipment		10.5			0.4			10.9
Goodwill		52.8			(0.3	)		52.5
Intangibles and other assets		86.2			—			86.2
Accounts payable and accrued liabilities		(25.4	)		—			(25.4	)
Deferred tax liabilities		(17.1	)		(0.1	)		(17.2	)
Total	$	139.0		$	—		$	139.0

Components of Identified Intangible Assets and Estimated Weighted Average Useful Lives

The following table sets forth the components of identified intangible assets associated with the Aimia Acquisition and their estimated weighted average useful lives:

	Estimated Fair		Estimated
(in millions of U.S. dollars)	Market Value		Useful Life
Customer relationships	$	76.5		15 years
Trademarks and trade names		1.5		20 years
Non-competition agreements		2.9		5 years
Total	$	80.9

Unaudited Pro Forma Financial Information

The following unaudited financial information from the Acquisition Date through September 27, 2014 represents the activity of Aimia that has been combined with our operations as of the Acquisition Date.

	For the period from May 30, 2014
(in millions of U.S. dollars)	through September 27, 2014
Revenue	$	31.8
Net income		0.3

Calypso [Member]

Business Combination Transfer Consideration

The total consideration paid by us in the Calypso Acquisition is summarized below:

(in millions of U.S. dollars)
Cash	$	7.0
Deferred consideration 1		5.1
Total consideration	$	12.1

^1.  Principal amount of $5.3 million discounted to present value.

Aimia and Calypso [Member]

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information for the three and nine months ended September 27, 2014 and September 28, 2013, respectively, represent the combined results of our operations as if the Aimia Acquisition and the Calypso Acquisition had occurred on December 30, 2012.  

	For the Three Months Ended				For the Nine Months Ended
(in millions of U.S. dollars, except share amounts)	September 27, 2014		September 28, 2013		September 27, 2014			September 28, 2013
Revenue	$	535.0	$	565.9	$	1,607.8		$	1,706.7
Net income (loss)		0.4		13.2		(3.5	)		34.4
Net income (loss) per common share, diluted	$	—	$	0.14	$	(0.04	)	$	0.36