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Subsequent Events | 3 Months Ended
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Apr. 02, 2022
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On May 2, 2022, the Company acquired Valley Proteins for approximately $1.2 billion in cash. The Company financed this transaction by borrowing all of the Company's delayed draw term A-1 facility of $400.0 million and delayed draw term A-2 facility of $500.0 million and the remainder through revolver borrowings under the Company's Amended Credit Agreement. On May 5, 2022, the Company announced that we entered into a definitive agreement to acquire all the shares of the FASA Group, the largest independent rendering company in Brazil, for approximately R$2.8 billion Brazilian Real in cash ($560.0 million USD at the exchange rate in effect on the signing date), subject to post closing adjustments and a contingent payment based on future earnings growth. The closing of the transaction is subject to customary closing conditions and regulatory approval in Brazil.

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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 http://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 http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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