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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Goodwill and Other Intangible Assets | The table below summarizes our goodwill and other intangible assets as of December 28, 2024 and December 30, 2023, respectively, each of which is explained in additional detail below (amounts in thousands):
|  | December 28, 2024 |  |  | December 30, 2023 |
Goodwill |  | $ | 679,896 |  |  | $ | 677,796 |
Amortizable intangible assets, net of amortization |  |  | 499,269 |  |  |  | 530,642 |
Indefinite-lived intangible assets |  |  | 127,100 |  |  |  | 127,100 |
Total goodwill and other intangible assets |  | $ | 1,306,265 |  |  | $ | 1,335,538 |
Summary of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill during Fiscal 2024, during which time we finalized the purchase accounting for the acquisition of Papa Pita, are as follows (amounts in thousands):
|  | Total |
Balance as of December 30, 2023 |  | $ | 677,796 |
Measurement period adjustment (see Note 7, Acquisition) |  |  | 2,100 |
Balance as of December 28, 2024 |  | $ | 679,896 |
Amortizable Intangible Assets | As of December 28, 2024 and December 30, 2023, the company had the following amounts related to amortizable intangible assets (amounts in thousands):
|  | December 28, 2024 |  |  | December 30, 2023 |
Asset |  | Cost |  |  | Accumulated Amortization |  |  | Net Value |  |  | Cost |  |  | Accumulated Amortization |  |  | Net Value |
Trademarks |  | $ | 481,715 |  |  | $ | 122,432 |  |  | $ | 359,283 |  |  | $ | 481,715 |  |  | $ | 107,562 |  |  | $ | 374,153 |
Customer relationships |  |  | 340,221 |  |  |  | 200,549 |  |  |  | 139,672 |  |  |  | 340,221 |  |  |  | 184,222 |  |  |  | 155,999 |
Non-compete agreements |  |  | 5,454 |  |  |  | 5,281 |  |  |  | 173 |  |  |  | 5,454 |  |  |  | 5,206 |  |  |  | 248 |
Distributor relationships |  |  | 4,123 |  |  |  | 3,982 |  |  |  | 141 |  |  |  | 4,123 |  |  |  | 3,881 |  |  |  | 242 |
Total |  | $ | 831,513 |  |  | $ | 332,244 |  |  | $ | 499,269 |  |  | $ | 831,513 |  |  | $ | 300,871 |  |  | $ | 530,642 |
Amortization Expense | Amortization expense for Fiscal 2024, 2023, and 2022 was as follows (amounts in thousands):
|  | Amortization expense |
Fiscal 2024 |  | $ | 31,371 |
Fiscal 2023 |  | $ | 32,218 |
Fiscal 2022 |  | $ | 31,752 |
Estimated Amortization of Intangibles | Estimated amortization of intangibles for Fiscal 2025 and the next four years thereafter is as follows (amounts in thousands):
Fiscal year |  | Amortization of Intangibles |
2025 |  | $ | 30,747 |
2026 |  | $ | 28,891 |
2027 |  | $ | 27,241 |
2028 |  | $ | 25,611 |
2029 |  | $ | 23,411 |

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