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Income Taxes (Tables) | 12 Months Ended
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Dec. 28, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | For financial reporting purposes, income befor e income taxes includes the following components:
|  | For the year ended |
|  | December 28, 2024 |  |  | December 30, 2023 |  |  | December 31, 2022 |
United States |  | $ | 10.8 |  |  | $ | 12.8 |  |  | $ | 71.3 |
Foreign |  |  | 39.7 |  |  |  | 36.4 |  |  |  | 50.5 |
Total |  | $ | 50.5 |  |  | $ | 49.2 |  |  | $ | 121.8 |
Schedule of Components of Income Tax Provision (Benefit) | The components of the income tax provision (benefit) are as follows:
|  | For the year ended |
|  | December 28, 2024 |  |  | December 30, 2023 |  |  | December 31, 2022 |
Current tax expense (benefit): |  |  |  |  |  |  |  |  |
United States |  | $ | 6.7 |  |  | $ | 6.7 |  |  | $ | 12.3 |
State and local |  |  | 0.5 |  |  |  | 1.5 |  |  |  | 0.4 |
Foreign |  |  | 12.9 |  |  |  | 11.4 |  |  |  | 15.9 |
Total current |  |  | 20.1 |  |  |  | 19.6 |  |  |  | 28.6 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |
United States |  |  | (6.5 | ) |  |  | (3.6 | ) |  |  | (0.4 | )
State and local |  |  | — |  |  |  | (1.4 | ) |  |  | (2.6 | )
Foreign |  |  | (2.1 | ) |  |  | (2.9 | ) |  |  | (2.2 | )
Total deferred |  |  | (8.6 | ) |  |  | (7.9 | ) |  |  | (5.2 | )
Total income tax provision |  | $ | 11.5 |  |  | $ | 11.7 |  |  | $ | 23.4 |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation between the effective income tax rate and the U.S. federal statutory rate is as follows:
|  | For the year ended |
|  | December 28, 2024 |  |  | December 30, 2023 |  |  | December 31, 2022 |
U.S. federal taxes at statutory rate |  | $ | 10.6 |  |  | $ | 10.3 |  |  | $ | 25.6 |
Increase (decrease) |  |  |  |  |  |  |  |  |
Foreign withholding tax |  |  | 0.1 |  |  |  | — |  |  |  | — |
Capitalized transaction costs |  |  | — |  |  |  | 0.2 |  |  |  | 0.3 |
Foreign income taxed at different rate |  |  | 1.5 |  |  |  | 1.4 |  |  |  | 1.7 |
FDII deduction |  |  | (1.1 | ) |  |  | (1.2 | ) |  |  | (2.8 | )
Changes in estimates related to prior years including foreign |  |  | 0.8 |  |  |  | 0.7 |  |  |  | 0.2 |
State and local taxes, net |  |  | 0.5 |  |  |  | (0.3 | ) |  |  | (2.3 | )
Foreign tax expense |  |  | 0.7 |  |  |  | 0.7 |  |  |  | 1.3 |
Current year tax credits |  |  | (1.1 | ) |  |  | (1.0 | ) |  |  | (0.9 | )
Foreign deferred other true up and permanent items |  |  | (0.5 | ) |  |  | (1.8 | ) |  |  | (1.0 | )
Change in reserve |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.2 |
Excess officer compensation |  |  | (0.3 | ) |  |  | 1.3 |  |  |  | 1.4 |
Change in valuation allowance |  |  | (0.7 | ) |  |  | 0.7 |  |  |  | — |
Stock-based compensation |  |  | 0.5 |  |  |  | — |  |  |  | (0.7 | )
Other |  |  | 0.3 |  |  |  | 0.5 |  |  |  | 0.4 |
Income tax provision |  | $ | 11.5 |  |  | $ | 11.7 |  |  | $ | 23.4 |
Schedule of Deferred Tax Assets and Liabilities | Deferred income tax assets and liabilities are provided to reflect the future tax consequences of differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 28, 2024 and December 30, 2023, are presented below:
|  | December 28, 2024 |  |  | December 30, 2023 |
Deferred tax assets: |  |  |  |  |  |
Foreign tax benefit of U.S. reserves |  | $ | 1.0 |  |  | $ | 1.4 |
Net operating losses |  |  | 6.2 |  |  |  | 6.2 |
Inventory |  |  | 3.0 |  |  |  | 3.7 |
Intangible assets and goodwill |  |  | 0.7 |  |  |  | 0.7 |
Lease liability |  |  | 3.9 |  |  |  | 4.5 |
Capitalized research expenditures |  |  | 8.1 |  |  |  | 8.0 |
Interest expense limitation carryforward |  |  | 8.6 |  |  |  | 3.6 |
Accrued expenses and other |  |  | 6.8 |  |  |  | 6.4 |
Other comprehensive income |  |  | 8.9 |  |  |  | 3.0 |
Total deferred tax assets |  |  | 47.2 |  |  |  | 37.5 |
Less: Valuation allowance |  |  | (2.3 | ) |  |  | (3.0 | )
Net deferred tax assets |  |  | 44.9 |  |  |  | 34.5 |
Deferred tax liabilities: |  |  |  |  |  |
Depreciation |  |  | (3.8 | ) |  |  | (7.4 | )
Right of use asset |  |  | (3.7 | ) |  |  | (4.4 | )
Intangible assets and goodwill |  |  | (76.3 | ) |  |  | (78.1 | )
Other deferred tax liabilities |  |  | (0.1 | ) |  |  | — |
Total deferred tax liabilities |  |  | (83.9 | ) |  |  | (89.9 | )
Net deferred tax liabilities |  | $ | (39.0 | ) |  | $ | (55.4 | )
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a roll-forward of the Company’s unrecognized tax benefits:
Unrecognized tax benefits - January 1, 2022 |  | $ | 9.0 |
Increases from positions taken during prior periods |  |  | 0.9 |
Increases from positions taken during current period |  |  | 0.2 |
Settled positions |  |  | (0.2 | )
Lapse of statute of limitations |  |  | (2.0 | )
Unrecognized tax benefits - December 31, 2022 |  | $ | 7.9 |
Increases from positions taken during prior periods |  |  | 1.1 |
Increases from positions taken during current period |  |  | 0.2 |
Settled positions |  |  | (2.7 | )
Lapse of statute of limitations |  |  | (0.4 | )
Unrecognized tax benefits - December 30, 2023 |  | $ | 6.1 |
Decreases from positions taken during prior periods |  |  | (0.5 | )
Increases from positions taken during current period |  |  | 0.2 |
Settled positions |  |  | — |
Lapse of statute of limitations |  |  | (0.4 | )
Unrecognized tax benefits - December 28, 2024 |  | $ | 5.4 |

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