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Note Q - Manufacturing Facility Closures and Disposals | 12 Months Ended
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Sep. 27, 2025
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | NOTE Q – MANUFACTURING FACILITY CLOSURES AND DISPOSALS During the fourth quarter of fiscal 2025, we announced the closure of two manufacturing facilities, our plant in Holly Ridge, North Carolina, and our plant in Atlanta, Georgia. In October 2025, we subsequently announced the closure of a third manufacturing facility, our plant in Colton, California. Production from these facilities will either be consolidated into various other facilities across our network, or it will be discontinued as part of our ongoing sales portfolio optimization. This consolidation was enabled by the investments we have made in our plants to modernize and expand capacity for our core products, as well as our investments made to build out our three regional distribution centers. As a result of the plant closures, we recorded charges of $24.1 million in fiscal 2025. There were no plant closure expenses in fiscal 2024 or fiscal 2023. These costs are reported in the plant closure expense item within the Operating expenses section of the Consolidated Statements of Income. Included in the results for fiscal 2025 are $3.2 million of charges that have resulted or will result in cash outflows and $20.9 million in non-cash charges. The manufacturing facility in Holly Ridge, NC produced handheld products for our Food Service and Retail Supermarket segments and ceased production on July 31, 2025. The closure costs for the facility totaled $14.9 million in fiscal 2025, including long-lived asset impairment charges of $14.4 million, severance and benefits costs of $0.3 million, and other exit and disposal costs of $0.2 million. These costs are reported in the plant closure expense item of the Consolidated Statements of Earnings. The long-lived asset impairment charges included a charge to write-down the value of a production line to its estimated fair value of $1.8 million. The estimate of fair value is categorized as level 3 within the fair value hierarchy. The key assumption used in the estimate of fair value was a third party offer to purchase the equipment, less estimated immaterial selling costs. The manufacturing facility in Atlanta, GA produced bakery and biscuit products for our Food Service and Retail Supermarket segments and ceased production on September 27, 2025. The closure costs for the facility totaled $6.6 million in fiscal 2025, including long-lived asset impairment charges of $3.2 million, severance and benefit costs of $2.6 million, inventory write-offs of $0.6 million, and other exit and disposal costs of $0.2 million. These costs are reported in the plant closure expense item of the Consolidated Statements of Earnings. The manufacturing facility in Colton, CA produces churro products for our Food Service and Retail Supermarket segments and will cease production in the first quarter of fiscal 2026. The closure costs for the plant totaled $2.6 million in fiscal 2025, including $1.2 million of long-lived asset impairment charges and $1.4 million of ROU impairment charges. These costs are reported in the plant closure expense item of the Consolidated Statements of Earnings. The following table reflects our liability related to manufacturing facility closures as of September 27, 2025 (in thousands):
|  | September 28, |  |  | Plant closure |  |  | Plant closure |  |  | September 27, |
|  | 2024 |  |  | expenses |  |  | payments |  |  | 2025 |
Severance and benefits costs |  | $ | - |  |  | $ | 2,918 |  |  | $ | (384 | ) |  | $ | 2,534 |
Other exit and disposal costs |  |  | - |  |  |  | 300 |  |  |  | (182 | ) |  |  | 118 |
Total |  | $ | - |  |  | $ | 3,218 |  |  | $ | (566 | ) |  | $ | 2,652 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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