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BUSINESS ACQUISITION (Notes) | 12 Months Ended
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Jul. 27, 2019
Business Combinations [Abstract] |
BUSINESS ACQUISITION | BUSINESS ACQUISITION On June 24, 2019, the Company purchased three Gourmet Garage specialty markets in Manhattan, New York City. Village acquired the store fixtures, leases, inventory, other working capital and other assets for $5,267, net of cash and cash equivalents. Village has accounted for this transaction as a business combination in accordance with the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date. In connection with this acquisition, the Company recorded $593 of goodwill attributable to the assembled workforce of Gourmet Garage and cost synergies and a $1,485 indefinite-lived intangible asset related to the trade name. Transaction costs were expensed as incurred. The allocation of the purchase price consideration to the assets acquired and the liabilities assumed will be completed upon the finalization of working capital adjustments. The following table summarizes how the purchase price has been allocated to the assets acquired and liabilities assumed at the date of acquisition.
| June 24, 2019
ASSETS |
Current Assets |
Cash and cash equivalents | $ | 24 |
Merchandise inventories | 564 |
Other current assets | 49 |
Total current assets | 637 |
Property, equipment and fixtures, net | 3,475 |
Trade name intangible asset | 1,485 |
Other assets | 255 |
Total assets | $ | 5,852 |
LIABILITIES |  |
Total current liabilities | $ | 1,154 |
Total Net Assets Acquired | 4,698 |
Goodwill | 593 |
Total Purchase Price | $ | 5,291 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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