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ACQUISITIONS (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions Consideration | The following table summarizes the preliminary purchase price allocation of the fair value of net tangible and intangible assets acquired and liabilities assumed:
| (In millions)
Cash transferred at close | $ | 209.6 |
Preliminary purchase price adjustment | (2.0) |
Total consideration transferred | $ | 207.6 |
Allocation of consideration to assets acquired and liabilities assumed: |
Cash | $ | 0.3 |
Receivables | 11.4 |
Inventories | 41.8 |
Property, plant, and equipment | 19.0 |
Operating lease right-of-use assets | 25.7 |
Goodwill | 69.7 |
Customer relationships | 65.0 |
Trademarks | 12.9 |
Other assets | 0.6 |
Assets acquired | 246.4 |
Assumed liabilities | (38.8) |
Total purchase price | $ | 207.6 |
The following table summarizes the purchase price allocation of the fair value of net tangible and intangible assets acquired:
| (In millions)
Cash transferred at close | $ | 20.0 |
Purchase price adjustment | 5.9 |
Total consideration transferred | $ | 25.9 |
Allocation of consideration to assets acquired: |
Inventories | $ | 25.2 |
Trademarks | 0.7 |
Total purchase price | $ | 25.9 |
Schedule of Preliminary Purchase Price Allocation of Fair value of Net Tangible Assets Acquired | The following table summarizes the preliminary purchase price allocation of the fair value of net tangible and intangible assets acquired and liabilities assumed:
| (In millions)
Cash transferred at close | $ | 209.6 |
Preliminary purchase price adjustment | (2.0) |
Total consideration transferred | $ | 207.6 |
Allocation of consideration to assets acquired and liabilities assumed: |
Cash | $ | 0.3 |
Receivables | 11.4 |
Inventories | 41.8 |
Property, plant, and equipment | 19.0 |
Operating lease right-of-use assets | 25.7 |
Goodwill | 69.7 |
Customer relationships | 65.0 |
Trademarks | 12.9 |
Other assets | 0.6 |
Assets acquired | 246.4 |
Assumed liabilities | (38.8) |
Total purchase price | $ | 207.6 |
The following table summarizes the purchase price allocation of the fair value of net tangible and intangible assets acquired:
| (In millions)
Cash transferred at close | $ | 20.0 |
Purchase price adjustment | 5.9 |
Total consideration transferred | $ | 25.9 |
Allocation of consideration to assets acquired: |
Inventories | $ | 25.2 |
Trademarks | 0.7 |
Total purchase price | $ | 25.9 |
Schedule of Pro Forma Information | The following unaudited pro forma information shows the results of operations for the Company as if its Harris Tea acquisition had been completed as of January 1, 2024. Adjustments have been made for the pro forma effects of depreciation and amortization of tangible and intangible assets recognized as part of the business combination, the amortization of the inventory fair value step-up, the amortization of off-market lease adjustments, acquisition-related costs, and related income taxes. The pro forma results may not necessarily reflect actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.
|  | Three Months Ended March 31,
|  | 2024 |  |
|  | (Unaudited, in millions)
Pro forma net sales |  | $ | 856.9 |  |  |
Pro forma net loss |  | (13.3) |  |  |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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