Acquisitions

6 Months Ended

Jul. 02, 2011

Acquisitions

Acquisitions

Note 2: Acquisitions

On March 5, 2008, Snap-on acquired a 60% interest in Wanda Snap-on (Zhejiang) Co. Ltd, (now known as Snap-on Asia Manufacturing (Zhejiang) Co. Ltd. ("Xiaoshan")) the company's tool manufacturing operation in Xiaoshan, China. Snap-on acquired the remaining 40% redeemable noncontrolling interest in Xiaoshan for a purchase price of $7.7 million and $0.1 million of transaction costs on April 6, 2010. The acquisition of Xiaoshan is part of the company's ongoing strategic initiatives to further expand its manufacturing presence in emerging growth markets and lower-cost regions.