ACQUISITIONS

12 Months Ended

Dec. 29, 2012

ACQUISITIONS

ACQUISITIONS

(2) ACQUISITIONS

        On December 19, 2012, the Company acquired Pure Metal Galvanizing for $45,687 in cash, net of cash acquired, plus assumed liabilities. In addition, the purchase price includes contingent consideration with a fair value of $3,884 to be paid at the end of five years if certain earnings objectives are met over the period. Pure Metal Galvanizing operates three custom galvanizing operations in Ontario, Canada. In the purchase price allocation, goodwill of $12,676 and $14,066 of customer relationships, trade name and other intangible assets was recorded. A portion of the goodwill is deductible for tax purposes. This business is included in the Coatings segment and was acquired to expand the Company's geographic presence into the Canadian galvanizing market.

        In June 2011, the Company acquired the remaining 40% of Donhad Pty. Ltd. ("Donhad") that it did not own for $25,253. As this transaction was the acquisition of the remaining shares of a consolidated subsidiary with no change in control, it was recorded within shareholders' equity and a a financing cash flow in the Consolidated Statement of Cash Flows. Also in June 2011, the Company acquired 60% of an irrigation monitoring services company for $1,539. This acquisition did not have a significant effect on the Company's fiscal 2011 financial results.

        On May 12, 2010, the Company acquired Delta, plc. ("Delta") for $237,926 in cash, net of cash acquired, plus assumed liabilities. Delta's manufacturing operations in Australia, Asia, South Africa and the United States include engineered steel products, galvanizing services and manganese materials. The Company's pro forma results of operations for the fiscal year ended December 25, 2010, assuming that the Delta acquisition occurred at the beginning of the year, was as follows:

Net sales	$	2,167,923
Net earnings		99,614
Earnings per share—diluted	$	3.77