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Related Party Transactions
12 Months Ended
Jun. 24, 2018
Related Party Transaction, Due from (to) Related Party [Abstract]  
Related Party Transactions
Related Party Transactions
In July 2010, Mark Swoboda was appointed Chief Executive Officer of Intematix Corporation (Intematix) and subsequently resigned as Chief Executive Officer in 2017 when the company was sold. Mark Swoboda is the brother of the Company’s former Chairman, Chief Executive Officer and President, Charles M. Swoboda. For a number of years the Company has purchased raw materials from Intematix pursuant to standard purchase orders in the ordinary course of business.
During fiscal 2018, the Company purchased $3.3 million of raw materials from Intematix, and the Company had $0.2 million outstanding payable to Intematix as of June 24, 2018. During fiscal 2017, the Company purchased $2.3 million of raw materials from Intematix, and the Company had $0.0 million outstanding payable to Intematix as of June 25, 2017.
The Company currently owns approximately 16% of the common stock of Lextar, an investment that was purchased in December 2014. As discussed in Note 1, “Business,” this investment was accounted for under the equity method from the date of investment until June 2016 when the Company chose for its representative not to stand for re-election as a member of the Lextar board of directors. During fiscal 2016, the Company purchased approximately $31.7 million of inventory from Lextar and the Company had $7.6 million outstanding payable to Lextar as of June 26, 2016.