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BUSINESS COMBINATIONS | 3 Months Ended
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Mar. 30, 2024
BUSINESS COMBINATIONS |
BUSINESS COMBINATIONS | F. BUSINESS COMBINATIONS We completed the following business combinations since the end of the first quarter of 2023, which were accounted for using the purchase method. Dollars below are in thousands unless otherwise noted:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Net | ​
Company | Acquisition | ​ | Intangible | Tangible | Operating
Name | Date | Purchase Price | Assets | Assets | Segment
​ | September 20, 2023 | $52,841 consideration for 80% stock purchase, net of acquired cash | $ | 43,785 | $ | 9,056 | International
UFP Palets y Embalajes SL (UFP Palets) | Headquartered in Castellón, Spain, UFP Palets (formerly known as Palets Suller Group) is the market leader in machine-built wood pallets, serving the region's large ceramic tile industry. The company had trailing 12-month sales of approximately $38 million through August 2023.
​ The purchase accounting valuation of the UFP Palets investment is yet to be finalized. In aggregate, investments completed since the end of the first quarter of 2023 and not consolidated with other operations contributed approximately $5.7 million in net sales and $0.5 million in operating losses during the first three months of 2024. The business combination mentioned above was not significant to our operating results and thus pro forma results for 2024 and 2023 are not presented.

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