Related Party Transactions

12 Months Ended

Jun. 24, 2012

Related Party Transaction, Due from (to) Related Party [Abstract]

Related Party Transactions

Related Party Transactions

On August 17, 2011, in connection with the Company's acquisition of Ruud Lighting, two of the prior shareholders of Ruud Lighting, Alan Ruud and Christopher Ruud, executed offer letters for continued employment with Ruud Lighting. Also on August 17, 2011, subsequent to the Company's acquisition of Ruud Lighting and pursuant to an Aircraft Purchase and Sale Agreement and a Joint Ownership Agreement with Ruud Lighting, each of Alan Ruud (through LSA, LLC, a limited liability company of which Mr. Ruud is the sole member (“LSA”)) and Christopher Ruud (through Light Speed Aviation, LLC, a limited liability company of which Christopher Ruud is the sole member (“Light Speed”)) acquired a 10% interest in an aircraft previously purchased by Ruud Lighting, resulting in Ruud Lighting owning an 80% interest in the aircraft. Each of LSA and Light Speed acquired its ownership in the aircraft for a purchase price of approximately $0.9 million for a combined interest of 20% or $1.9 million which is included in the Consolidated Statements of Cash Flow as cash provided by investing activities, under the caption "Purchase of Ruud, net of cash acquired."

Pursuant to the Joint Ownership Agreement, each of LSA and Light Speed is responsible for its share of flight crew, direct, fixed and other expenses attributable to its use of the aircraft. During fiscal 2012, the Company billed LSA and Light Speed $230 thousand and $181 thousand, respectively, for use of the aircraft. Of these billed amounts, the Company has been reimbursed by LSA and Light Speed for $230 thousand and $181 thousand, respectively, as of June 24, 2012.

In July 2010, Mark Swoboda was appointed Chief Executive Officer of Intematix Corporation ("Intematix"). Mark Swoboda is the brother of the Company’s Chairman, Chief Executive Officer and President, Charles M. Swoboda. For a number of years the Company has purchased raw materials from Intematix pursuant to standard purchase orders in the ordinary course of business.

During fiscal 2012, the Company purchased $1.9 million of raw materials from Intematix, and the Company had $0.4 million outstanding payable to Intematix as of June 24, 2012. During fiscal 2011, the Company purchased $0.8 million of raw materials from Intematix, and the Company had $0.1 million outstanding payable to Intematix as of June 26, 2011.