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Goodwill and Intangible Assets (Tables)
 3 Months Ended
Sep. 26, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Components of Identifiable Intangible Assets

Identifiable intangible assets subject to amortization consist of the following:

 

 

September 26,
2024

 

 

June 27,
2024

 

 

September 28,
2023

 

Customer relationships

 

$

21,350

 

 

$

21,350

 

 

$

21,350

 

Brand names

 

 

17,070

 

 

 

17,070

 

 

 

17,070

 

Product formulas

 

 

850

 

 

 

850

 

 

 

-

 

Non-compete agreement

 

 

300

 

 

 

300

 

 

 

300

 

 

 

39,570

 

 

 

39,570

 

 

 

38,720

 

Less accumulated amortization:

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

(20,842

)

 

 

(20,680

)

 

 

(20,095

)

Brand names

 

 

(12,845

)

 

 

(12,668

)

 

 

(12,134

)

Product formulas

 

 

(162

)

 

 

(121

)

 

 

-

 

Non-compete agreement

 

 

(280

)

 

 

(279

)

 

 

(275

)

 

 

(34,129

)

 

 

(33,748

)

 

 

(32,504

)

Net intangible assets

 

$

5,441

 

 

$

5,822

 

 

$

6,216

 
Summary of Expected Amortization Expense Amortization expense for the remainder of fiscal 2025 is expected to be approximately $993 and expected amortization expense the next five fiscal years is as follows:

 

Fiscal Year Ending

 

 

 

June 25, 2026

 

$

1,038

 

June 24, 2027

 

 

863

 

June 29, 2028

 

 

685

 

June 28, 2029

 

 

496

 

June 27, 2030

 

 

400

 
Summary of Changes in Carrying Amount of Goodwill The changes in the carrying amount of goodwill since June 29, 2023 are as follows:

 

Gross goodwill balance at June 29, 2023

 

$

20,516

 

Accumulated impairment losses

 

 

(8,766

)

Net goodwill balance at June 29, 2023

 

 

11,750

 

Goodwill acquired during fiscal 2024

 

 

—

 

Net balance at June 27, 2024

 

 

11,750

 

Goodwill acquired during fiscal 2025

 

 

—

 

Net balance at September 26, 2024

 

$

11,750