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ACQUISITION (Tables) | 6 Months Ended
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Dec. 27, 2014
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table is an estimate of the purchase price for Ayrshire and the preliminary purchase price allocation (in thousands):
| Estimated Fair Values
| At September 3, 2014
Purchase price paid | $ | 48,010 |
Cash acquired | (46 | )
Purchase price, net of cash received | $ | 47,964 |
Cash | $ | 46 |
Accounts Receivable | 21,211 |
Inventories | 21,772 |
Other Current Assets | 2,321 |
Fixed Assets | 7,823 |
Favorable Leases | 2,941 |
Customer Relationships | 2,833 |
Non-Compete Agreements | 196 |
Goodwill | 8,217 |
Other Assets | 42 |
Accounts Payable | (11,070 | )
Accrued Salaries and Wages | (2,188 | )
Other Current Liabilities | (2,408 | )
Deferred Tax Liability | (3,726 | )
Fair Value of Assets Acquired | $ | 48,010 |
The following table summarizes the fair values of the assets acquired as of the date of acquisition (in thousands):
| Fair Values
| At July 1, 2013
Current Assets | $ | 777 |
Fixed Assets | 1,168 |
Non-Compete Agreements | 372 |
Customer Relationships | 1,970 |
Goodwill | 1,740 |
Fair Value of Assets Acquired | $ | 6,027 |
Business Acquisition, Pro Forma Information | Pro forma condensed consolidated financial information for the three and six months ended December 27, 2014 and December 28, 2013 (in thousands):
|  | Three Months Ended
|  | (unaudited)
|  | December 27, 2014 |  | December 28, 2013
Net sales |  | $ | 114,311 |  |  | $ | 109,981 |
Net income |  | $ | 1,626 |  |  | $ | 3,407 |
|  | Six Months Ended
|  | (unaudited)
|  | December 27, 2014 |  | December 28, 2013
Net sales |  | $ | 224,132 |  |  | $ | 219,132 |
Net income |  | $ | 721 |  |  | $ | 5,440 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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