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Acquisitions | 12 Months Ended
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Aug. 27, 2022
Business Combinations [Abstract] |
Acquisitions | 2. Acquisitions During fiscal 2022, the Company completed thirteen business acquisitions with an aggregate purchase price of approximately $44.8 million. The allocations of the purchase prices with respect to certain assets acquired during fiscal 2022 are complete. The results of operations of these acquisitions have been included in the Company’s consolidated financial results since their respective acquisition dates. These acquisitions were not significant in relation to the Company’s consolidated financial results and, therefore, pro forma financial information has not been presented. In September 2019, the Company completed an acquisition for approximately $38.8 million. The all-cash transaction was structured as an asset acquisition, with the Company acquiring substantially all of the acquired company’s industrial laundry, industrial uniform rental and industrial direct sales assets. Aggregate information relating to the acquisition of businesses which were accounted for as purchases is as follows (in thousands, except number of businesses acquired):
Year ended |  | August 27, 2022 |  |  | August 28, 2021 |  |  | August 29, 2020 |
Number of businesses acquired |  | 13 |  |  | 8 |  |  | 8 |
Tangible assets acquired |  | $ | 5,542 |  |  | $ | 812 |  |  | $ | 6,370 |
Goodwill |  |  | 27,964 |  |  |  | 4,533 |  |  |  | 23,544 |
Customer contracts |  |  | 10,450 |  |  |  | 3,219 |  |  |  | 12,697 |
Other intangible assets |  |  | 807 |  |  |  | 179 |  |  |  | 594 |
Liabilities assumed |  |  | — |  |  |  | — |  |  |  | (1,872 | )
Acquisition of businesses |  | $ | 44,763 |  |  | $ | 8,743 |  |  | $ | 41,333 |
Tangible assets acquired primarily relate to accounts receivable, inventory, prepaid expenses and property, plant and equipment. Liabilities assumed primarily relate to leases, accounts payable and accrued liabilities. The amount assigned to intangible assets acquired was based on their respective fair values determined as of the acquisition date. The excess of the purchase price over the tangible and intangible assets was recorded as goodwill. In fiscal 2022, 2021 and 2020, the goodwill was primarily allocated to the U.S. and Canadian Rental and Cleaning segment and is deductible for tax purposes.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4946-128472 + Details
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- References No definition available. + Details
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