BUSINESS ACQUISITION (Notes)

12 Months Ended

Jul. 27, 2019

On June 24, 2019, the Company purchased three Gourmet Garage specialty markets in Manhattan, New York City. Village acquired the store fixtures, leases, inventory, other working capital and other assets for $5,267, net of cash and cash equivalents. Village has accounted for this transaction as a business combination in accordance with the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date. In connection with this acquisition, the Company recorded $593 of goodwill attributable to the assembled workforce of Gourmet Garage and cost synergies and a $1,485 indefinite-lived intangible asset related to the trade name. Transaction costs were expensed as incurred. The allocation of the purchase price consideration to the assets acquired and the liabilities assumed will be completed upon the finalization of working capital adjustments.

The following table summarizes how the purchase price has been allocated to the assets acquired and liabilities assumed at the date of acquisition.



	June 24, 2019
ASSETS
Current Assets
Cash and cash equivalents	$	24
Merchandise inventories	564
Other current assets	49
Total current assets	637

Property, equipment and fixtures, net	3,475
Trade name intangible asset	1,485
Other assets	255
Total assets	$	5,852
LIABILITIES
Total current liabilities	$	1,154

Total Net Assets Acquired	4,698
Goodwill	593
Total Purchase Price	$	5,291