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BUSINESS COMBINATIONS

3 Months Ended

Mar. 29, 2025

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS

F.       BUSINESS COMBINATIONS

We completed the following acquisitions since the end of March 2024, which were accounted for using the purchase method. Dollars below are in thousands unless otherwise noted:

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​	​	​	​		Net		​
Company	Acquisition	​	Intangible		Tangible		Operating
Name	Date	Purchase Price	Assets		Assets		Segment
​	December 23, 2024	$29,901 consideration for 100% asset purchase	$	12,662	$	17,239	Packaging
C&L Wood Products (C&L)	Located in Hartselle, AL and founded in 1975, C&L is a manufacturer of machine-built pallets, mulch, and other wood products. The company had trailing 12-month sales of approximately $25 million through November 2024.

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The intangible assets for the above investment have not been finalized and allocated to their respective identifiable asset and goodwill accounts. This investment contributed approximately $6.1 million to net sales and $0.2 million to operating profits during the first three months of 2025.

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The business combination mentioned above was not significant to our operating results and thus pro forma results for 2025 and 2024 are not presented.

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- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805/tableOfContent

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- References

No definition available.

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