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Acquisitions (Tables)

6 Months Ended

Nov. 24, 2019

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The Acquisition Date fair value of the consideration paid consisted of the following:

(In thousands)
Cash consideration	$	59,898
Stock consideration	15,068
	$	74,966

Schedule of Purchase Price Allocation

The following is a summary of the amounts recognized in accounting for the Yucatan Foods acquisition:

(In thousands)
Cash and cash equivalents	$	26
Accounts receivable	6,310
Inventories	11,384
Prepaid expenses and other current assets	1,573
Other assets	102
Property and equipment	14,083
Trademarks/tradenames	15,900
Customer relationships	11,000
Accounts payable	(4,507		)
Other accrued liabilities	(1,873		)
Deferred tax liabilities	(1,767		)
Net identifiable assets acquired	52,231
Goodwill	22,735
Total fair value purchase consideration	$	74,966

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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

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-Name Accounting Standards Codification
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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