On December 14, 2018, the company completed the acquisition of 100% of the outstanding membership interests of Canyon, a leading gluten-free bread baker, from its members for total consideration of $205.2 million, including a $5.0 million earn-out recorded as contingent consideration. We believe the acquisition of Canyon strengthens our position as the second-largest baker in the U.S. by giving us access to the fast-growing gluten-free bread category. The acquisition has been accounted for as a business combination and the assets have been assigned to our DSD Segment and Warehouse Segment. Canyon’s sales and results of operations were immaterial for fiscal 2018. The total goodwill recorded for this acquisition was $80.6 million and it is deductible for tax purposes.

During fiscal 2018, the company incurred $4.5 million of acquisition-related costs for Canyon. This table is based on preliminary valuations for the assets acquired, liabilities assumed, and the allocated intangible assets and goodwill. The acquisition-related costs were recorded in the selling, distribution and administrative expense line item in our Consolidated Statements of Income. The following table summarizes the consideration paid for Canyon based on the fair value at the acquisition date (amounts in thousands):

Fair Value of consideration transferred:
Cash consideration paid	$	200,208
Working capital adjustments		299
Contingent consideration		4,700
Total consideration	$	205,207
Recognized amounts of identifiable assets acquired and liabilities assumed:
Property, plant, and equipment	$	42,128
Identifiable intangible assets		78,380
Financial assets		4,097
Net recognized amounts of identifiable assets acquired		124,605
Goodwill	$	80,602

Property, plant and equipment in the table above includes real property and machinery and equipment

The following table presents the acquired intangible assets subject to amortization (amounts in thousands, except amortization periods):

	Total		Weighted average amortization years		Attribution Method
Trademarks	$	41,700		40.0	Straight-line
Customer relationships		36,400		25.0	Sum of year digits
Noncompete agreements		280		1.7	Straight-line
	$	78,380		32.9

The customer relationships are reported in the Warehouse Segment while the trademarks and noncompete assets are reported in the DSD Segment. Goodwill was allocated to the two segments using the acquisition method approach. Goodwill of $57.1 million and $23.5 million was allocated to the DSD Segment and Warehouse Segment, respectively.

The fair value of trade receivables was $3.6 million. The gross amount of the receivables were $3.7 million with $0.1 million determined to be uncollectible. We did not acquire any other class of receivables as a result of the Canyon acquisition.

We determined that the consolidated results of operations for Canyon were immaterial in the aggregate and the pro forma financial statements are not required for fiscal 2018. The purchase price allocation attributable to Canyon is preliminary. When all relevant information is obtained, resulting changes, if any, to our provisional purchase price allocation will be adjusted to reflect new information obtained about the facts and circumstances that existed as of the respective acquisition dates that, if known, would have affected the measurement of the amounts recognized as of those dates.