Acquisitions (Tables)
 12 Months Ended
Dec. 27, 2014
Acquisition  
Schedule of unaudited pro forma consolidated results of operations

The following unaudited pro forma consolidated results of operations (in thousands, except per share data) assumes the Willamette Valley Fruit Company and Fresh Frozen Foods acquisitions occurred as of the beginning of the earliest period presented. 

 

 

 

 

Year ended

 

 

 

 

 

December 27,
2014

 

December 28,
2013

 

Net revenues

 

As reported

 

$
285,663 

 

$
215,580 

 

 

 

pro forma

 

$
285,663 

 

$
271,597 

 

 

 

 

 

 

 

 

 

Net income

 

As reported

 

$
10,561 

 

$
6,618 

 

 

 

pro forma

 

$
10,561 

 

$
8,571 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

As reported

 

$
0.53 

 

$
0.33 

 

 

 

pro forma

 

$
0.53 

 

$
0.43 

 

 

 

Fresh Frozen Foods  
Acquisition  
Summary of the purchase price and the estimated fair value of the assets acquired and liabilities assumed and certain supplemental cash flow information

 

The following table summarizes the purchase price and estimated fair value of assets acquired and liabilities assumed at the date of acquisition (in thousands):

 

Purchase price paid as:

 

 

 

 

 

Cash

 

 

 

$
38,375

 

Net working capital adjustment

 

 

 
401

 

Contingent consideration

 

 

 
2,653

 

Total purchase price

 

 

 
41,429

 

 

 

 

 

 

 

Fair value of net assets acquired:

 

 

 

 

 

Current assets

 

$
10,774

 

 

 

Property and equipment

 
8,424

 

 

 

Deferred tax assets

 
235

 

 

 

Identifiable intangible assets:

 

 

 

 

 

Trade name

 
9,475

 

 

 

Customer relationships

 
10,487

 

 

 

Current liabilities

 
(6,252

)

 

 

Long-term capital lease obligation

 
(15

)

 

 

Total fair value of net assets acquired

 

 

 
33,128

 

 

 

 

 

 

 

Excess purchase price over fair value of net assets acquired (goodwill)

 

 

 

$
8,301

 

 

 

Willamette Valley Fruit Company  
Acquisition  
Summary of the purchase price and the estimated fair value of the assets acquired and liabilities assumed and certain supplemental cash flow information

 

The following table summarizes the purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition and provides certain supplemental cash flow information (in thousands):

 

Purchase price paid as:

 

 

 

 

 

Cash and borrowings on revolving line of credit

 

 

 

$
8,472

 

Holdback consideration

 

 

 
800

 

Contingent consideration

 

 

 
2,400

 

Total purchase price

 

 

 
11,672

 

Fair value of net assets acquired:

 

 

 

 

 

Inventory

 

$
1,272

 

 

 

Property and equipment

 
3,335

 

 

 

Identifiable intangible assets

 
3,940

 

 

 

Current liabilities

 
(22

)

 

 

Total fair value of net assets acquired

 

 

 
8,525

 

Excess purchase price over fair value of net assets acquired (goodwill)

 

 

 

$
3,147