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v3.23.1

Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of pro forma consolidated statement of operations information | The Company reflected net sales and income before income taxes in its condensed consolidated statement of operations related to the fiscal 2023 acquisitions as follows:
| Thirteen Weeks Ended |  |
| March 31, 2023 |  |  |  |  |  |
Net sales | $ | 20,207 |  |  |  |  |  |  |
Income before income taxes | $ | 1,760 |  |  |  |  |  |  |
The pro forma information reflects amortization and depreciation of the acquisitions at their respective fair value. CME did not have a proforma impact during the thirteen weeks ended March 31, 2023 as it was included in the condensed consolidated results of operations for the entire period.
| Thirteen Weeks Ended |  |
| March 31, 2023 |  | March 25, 2022 |  |  |  |
Net sales | $ | 773,547 |  |  | $ | 621,761 |  |  |  |  |
Income before income taxes | $ | 1,159 |  |  | $ | 7,139 |  |  |  |  |
Schedule of purchase price allocation | The table below sets forth the preliminary purchase price allocation for the Company’s acquisitions:
| Chef Middle East |  | Hardie’s Fresh Foods |  |  | Other Acquisitions
Current assets | $ | 84,076 |  |  | $ | 27,479 |  |  |  | $ | 9,787 |
Customer relationships | 25,800 |  |  | 11,200 |  |  |  | 1,531 |
Trademarks | 11,400 |  |  | 1,900 |  |  |  | 2,600 |
Non-compete agreements | 320 |  |  | — |  |  |  | — |
Goodwill | 24,680 |  |  | 14,720 |  |  |  | 4,596 |
Fixed assets | 16,953 |  |  | 5,582 |  |  |  | 117 |
Other assets | 941 |  |  | 854 |  |  |  | 15 |
Deferred tax liability | (3,600) |  |  | — |  |  |  | — |
Right-of-use assets | 5,321 |  |  | 13,303 |  |  |  | 3,258 |
Lease liabilities | (5,321) |  |  | (13,303) |  |  |  | (3,258) |
Current liabilities | (44,155) |  |  | (17,235) |  |  |  | (2,880) |
Earn-out liability | (7,500) |  |  | (6,500) |  |  |  | (1,300) |
Total consideration | $ | 108,915 |  |  | $ | 38,000 |  |  |  | $ | 14,436 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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