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Acquisitions (Tables)

12 Months Ended

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
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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
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