ACQUISITIONS

3 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

During the three months ended December 31, 2016, the Company made no acquisitions of businesses. During the three months ended December 31, 2015, the Company made one acquisition of a business. On October 6, 2015, the Company acquired certain operating assets of Dynamic Health Laboratories, Inc. for $19,026 in cash.

The Condensed Consolidated Statements of Comprehensive Income and the Condensed Consolidated Statements of Cash Flows presented herein include the activities of this acquired business from the date of acquisition. Pro forma information was not provided for the three months ended December 31, 2015 since the acquisition was completed near the beginning of the period and the pro forma results are not materially different than actual results. The expected long-term sales and expense synergies of acquired businesses generally are not realized immediately following acquisition, as certain transition and integration matters must be completed.

This acquisition is in keeping with the Company's business strategy of consolidating the fragmented industry in which it competes. This acquisition was accounted for using the acquisition method of accounting. Accordingly, the purchase price was assigned to the assets acquired based on their fair values at the date of acquisition. The excess of purchase price over the fair values of the assets acquired was classified as goodwill. The goodwill relates to expected synergies from this acquisition. The following reflects the final allocation of the purchase price for the fiscal 2016 acquisition to the assets acquired:

	Fiscal 2016 Acquisition
Assets acquired:
Current assets	$	3,821
Property, plant and equipment	644
Goodwill	6,541
Intangible assets	8,020
	$	19,026

The fiscal 2016 acquired intangible assets totaling $8,020 related to trademarks, tradenames and customer relationships and are being amortized over periods of eight to fifteen years for financial statement purposes. The fiscal 2016 acquired intangible assets are expected to be deductible for tax purposes over fifteen years. Goodwill of $6,541 for fiscal 2016 is not subject to amortization for financial statement purposes and is expected to be deductible for tax purposes over fifteen years.