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Acquisitions (Tables) | 12 Months Ended
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May 30, 2021
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, net | 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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