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Subsequent Events | 12 Months Ended
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Dec. 29, 2018
Subsequent Events [Abstract] |
Subsequent Events | Note 19 – Subsequent Events On December 31, 2018, the Company acquired all of the equity of Martin’s Super Markets (“Martin’s”) for $84.3 million, net of cash acquired. The purchase price is subject to customary working capital adjustments, as necessary. Founded in 1947 and headquartered in South Bend, Indiana, Martin’s currently operates 21 stores in Northern Indiana and Southwest Michigan with approximately 3,500 employees. For their fiscal year ended July 29, 2018, Martin’s had more than $450 million in net sales. Martin’s was an independent retailer and customer of the Company’s Food Distribution segment as of December 29, 2018, and sales from the Food Distribution segment to Martin’s will be eliminated going forward. The acquisition will expand the footprint of the Company’s Retail segment into northern Indiana and southwestern Michigan. The acquisition was funded with proceeds from the Company’s Credit Agreement (Note 7).

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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