BUSINESS COMBINATIONS

3 Months Ended

Mar. 28, 2015

BUSINESS COMBINATIONS [Abstract]

BUSINESS COMBINATIONS

F. BUSINESS COMBINATIONS

We completed the following acquisitions in fiscal 2015 and 2014 which were accounted for using the purchase method (in thousands):

Company Name	Acquisition Date	Purchase Price	Intangible Assets	Net Tangible Assets	Operating Segment	Business Description
Rapid Wood Mfg., LLC ("Rapid Wood")	February 2, 2015	$1,638 (asset purchase)	$789	$849	Western Division	A supplier of lumber products to the region's manufactured housing and recreational vehicle industries based in Caldwell, Idaho.  Rapid Wood had annual sales of $2.3 million.
Integra Packaging Proprietary, Ltd ("Integra Packaging")	January 16, 2015	$1,102 (51.94% stock purchase)	$1,406 (The Company portion of Intangible Assets $730 or 51.94%)	$715 (The Company portion of Net Tangible Assets $372 or 51.94%)	Other	An Australian-based manufacturer and distributor of industrial wood specialty packaging products.  Integra Packaging had annual sales of $12.4 million.
Bigs Packaging and Lumber, LLC ("Bigs Packaging")	November 13, 2014	$20,000 (asset purchase) + $3,976 earnout accrual	$15,031	$8,945	Western Division	A Texas-based manufacturer of industrial wood and packaging solutions.  Bigs Packaging had annual sales of $50.0 million.
Packnet Ltd ("Packnet")	November 24, 2014	$7,506 (80% asset purchase)	$7,885 (The Company portion of Intangible Assets $6,308 or 80%)	$1,498 (The Company portion of Net Tangible Assets $1,198 or 80%)	Western Division	A supplier of industrial packaging and services based in Eagan, MN.  Packnet had annual sales of $9.0 Million.
High Level Components, LLC ("High Level")	March 31, 2014	$2,944 (asset purchase)	$ -	$3,232	North Division	A building component manufacturer based in Locust, NC.  High Level had annual sales of $6.8 million.
Upshur Forest Products, LLC ("Upshur")	March 28, 2014	$1,774 (50% asset purchase; 51% voting majority)	$1,577 (The Company portion of Intangible Assets $788 or 50%)	$1,971 (The Company portion of Net Tangible Assets $986 or 50%)	Western Division	A sawmill located in Gilmer, TX.  Upshur had annual sales of $8.9 million.
Container Systems, Inc. ("CSI")	March 14, 2014	$2,417 (asset purchase)	$-	$2,417	South Division	A manufacturer of crates and containers for industrial applications and the moving-and-storage industry, located in Franklinton, NC.  CSI had annual sales of $3.0 million.

The intangible assets, including contingent consideration, for each acquisition were finalized and allocated to their respective identifiable intangible asset and goodwill accounts during 2014 or the first quarter of 2015, except for Integra, Rapid Wood, and Bigs Packaging.