Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill and Other Intangible Assets

The table below summarizes our goodwill and other intangible assets as of December 28, 2024 and December 30, 2023, respectively, each of which is explained in additional detail below (amounts in thousands):

	December 28, 2024		December 30, 2023
Goodwill	$	679,896	$	677,796
Amortizable intangible assets, net of amortization		499,269		530,642
Indefinite-lived intangible assets		127,100		127,100
Total goodwill and other intangible assets	$	1,306,265	$	1,335,538

Summary of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill during Fiscal 2024, during which time we finalized the purchase accounting for the acquisition of Papa Pita, are as follows (amounts in thousands):

	Total
Balance as of December 30, 2023	$	677,796
Measurement period adjustment (see Note 7, Acquisition)		2,100
Balance as of December 28, 2024	$	679,896

Amortizable Intangible Assets

As of December 28, 2024 and December 30, 2023, the company had the following amounts related to amortizable intangible assets (amounts in thousands):

	December 28, 2024						December 30, 2023
Asset	Cost		Accumulated Amortization		Net Value		Cost		Accumulated Amortization		Net Value
Trademarks	$	481,715	$	122,432	$	359,283	$	481,715	$	107,562	$	374,153
Customer relationships		340,221		200,549		139,672		340,221		184,222		155,999
Non-compete agreements		5,454		5,281		173		5,454		5,206		248
Distributor relationships		4,123		3,982		141		4,123		3,881		242
Total	$	831,513	$	332,244	$	499,269	$	831,513	$	300,871	$	530,642

Amortization Expense

Amortization expense for Fiscal 2024, 2023, and 2022 was as follows (amounts in thousands):

	Amortization expense
Fiscal 2024	$	31,371
Fiscal 2023	$	32,218
Fiscal 2022	$	31,752

Estimated Amortization of Intangibles

Estimated amortization of intangibles for Fiscal 2025 and the next four years thereafter is as follows (amounts in thousands):

Fiscal year	Amortization of Intangibles
2025	$	30,747
2026	$	28,891
2027	$	27,241
2028	$	25,611
2029	$	23,411