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Acquisition of Business | 12 Months Ended
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Dec. 28, 2024
Acquisition of Business |
Acquisition of Business | Note 11 Acquisition of Business Fiscal 2024 Acquisitions On October 21, 2024, the Company purchased two Sunnyway Food stores located in South Central Pennsylvania. The Company acquired these locations and their operations in an effort to expand its presence in the region. The results of operations of the former Sunnyway Food stores acquisition are included in the accompanying Consolidated Financial Statements from the date of acquisition. The two former Sunnyway Food stores contributed $5.4 million to sales in 2024. The cash purchase price paid was $16.2 million for the property, equipment, inventories, and goodwill related to this purchase. The Company accounted for this transaction as a business combination in accordance with the acquisition method. The fair value of property and equipment were determined based on external appraisals. Goodwill of $8.9 million has been recorded, based upon the expected benefits to be derived from new management business strategy and cost synergies. The $8.9 million of goodwill is deductible for tax purposes. The purchase price has been allocated to the acquired assets as follows: ​
​ | ​ | ​
​ | 2 Sunnyway
​ | Food Stores
(dollars in thousands) | October 21, 2024
Inventories | $ | 101
Property and equipment | ​ | 7,200
Goodwill | ​ | 8,924
Total fair value of assets acquired | $ | 16,225
​

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