Subsequent Event

12 Months Ended

Jan. 02, 2016

Subsequent Events [Abstract]

Subsequent Event

Note 24—Subsequent Event

On January 4, 2016, we acquired AquaTerra Corporation (“AquaTerra”), a Canadian direct-to-consumer home and office water delivery business, for approximately C$62 million (approximately $45 million on the closing date). The acquisition was funded using cash on hand as well as borrowings under our ABL facility. This acquisition supports our strategy to become a more diversified beverage provider across multiple channels and geographies, as well as our continuing consolidation of the higher margin HOD bottled water and OCS categories. Due to the limited time since the AquaTerra acquisition closing date, the Company is unable to provide actual amounts recognized related to the AquaTerra assets acquired and liabilities assumed as the accounting for the purchase price allocation has not yet been completed. As a result, certain required disclosures relative to the AquaTerra acquisition, including those related to any goodwill or bargain purchase amounts to be recognized, have not been made. AquaTerra will become a part of our DSS reporting segment.

On February 17, 2016, the Board of Directors declared a dividend of $0.06 per common share, payable in cash on March 24, 2016 to shareowners of record at the close of business on March 9, 2016.