Quarterly report pursuant to Section 13 or 15(d)

Acquisitions

v3.21.2
Acquisitions
6 Months Ended
Jun. 26, 2021
Business Combinations [Abstract]  
Acquisitions
On April 16, 2021, the Company completed the acquisition of Oz Post International, LLC ("OZCO"), a leading manufacturer of superior quality hardware that offers structural fasteners and connectors used for decks, fences and other outdoor structures, for a total purchase price of $39,102. The Company entered into an amendment ("OZCO Amendment") to the term loan credit agreement dated May 31, 2018 (the "2018 Term Loan"), which provided $35,000 of incremental term loan funds to be used to finance the acquisition. OZCO has business operations throughout North America and its financial results reside in the Company's Hardware and Protective Solutions reportable segment.

The following table reconciles the fair value of the acquired assets and assumed liabilities to the preliminary total purchase price of OZCO:

Accounts receivable $ 1,143 
Inventory 3,564 
Other current assets 24 
Property and equipment 595
Goodwill 9,450 
Customer relationships 23,500 
Trade names 2,600 
Technology 4,000 
Total assets acquired 44,876 
Less:
Liabilities assumed (5,774)
Total purchase price $ 39,102 

Pro forma financial information has not been presented for OZCO as their associated financial results are insignificant to the financial results of the Company on a standalone basis.