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Acquisitions (Tables)

3 Months Ended

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

X

- 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

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- References

No definition available.

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X

- 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

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