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Subsequent Events | 6 Months Ended
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Jul. 02, 2022
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events In July 2022, the company announced the acquisitions of CP Packaging, a manufacturer of advanced high-speed vacuum packaging equipment for the food processing industry based in Appleton, Wisconsin, and Colussi Ermes, a leading manufacturer of automated washing solutions for the food processing industry based in Italy. The combined purchase price for these acquisitions was approximately $140.0 million. On August 11, 2022, as provided for under the Credit Agreement, the company has drawn $750.0 million against the delayed draw term facility. The funds drawn were used to reduce outstanding borrowings under the revolve r. The delayed draw term loan will amortize in quarterly installments due on the last day of each fiscal quarter, commencing on October 1, 2022 in an amount equal to 0.625% of the principal drawn, with the balance, plus any accrued interest payable by October 21, 2026.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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