Business Combinations

12 Months Ended

Jun. 30, 2013

Business Combinations [Abstract]

Business Combinations

(3) Business Combinations

On December 31, 2010, the Company acquired certain assets of Rising Pharmaceuticals, Inc. (“Rising”),  a New Jersey based company that markets and distributes generic prescription and over the counter pharmaceutical products to leading wholesalers, chain drug stores, distributors, mass market merchandisers and others under its own label, throughout the United States. The purchase was approximately $73,317 which was comprised of the issuance of 1,000 shares of Aceto common stock, valued at $9,000, cash payment of approximately $58,817 and approximately $5,500 liability, subsequently paid to Rising, to satisfy bulk sales tax obligation.  In accordance with the purchase agreement, as amended, related to the Rising acquisition, $7,970 of deferred consideration was to be paid by Aceto over a four year period with $1,500 paid in February 2012, $1,470 paid in December 2012, $1,500 to be paid not later than fifty-six days following the third anniversary of the closing date of the purchase and $3,500 to be paid not later than fifty-six days following the fourth anniversary of the closing date of the purchase.

The purchase agreement also provides for the payment of additional contingent consideration equal to one-half of the three year cumulative Rising earnings before interest, taxes, depreciation and amortization in excess of $32,100, up to a maximum of $6,000. As of June 30, 2013, the Company has accrued $5,346 related to this contingent consideration. In the third and fourth quarters of fiscal 2013, the Company recorded additional contingent consideration of $2,840 and $404, respectively, which is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Income for the fiscal year ended June 30, 2013. Any necessary future adjustments to this amount will be recorded as an income statement charge at that time.