Business Combinations

9 Months Ended

Mar. 31, 2014

Business Combinations [Abstract]

Business Combinations

(2)  Business Combinations

On April 30, 2014, Rising Pharmaceuticals, Inc., a wholly owned subsidiary of Aceto (“Rising”), acquired 100% of the issued and outstanding membership interests of PACK Pharmaceuticals, LLC (“PACK”). PACK, a national marketer and distributor of generic prescription and over-the-counter pharmaceutical products, has headquarters in Buffalo Grove, Illinois, a suburb of Chicago. The purchase price included an initial payment of approximately $80,000 in cash, plus an upward closing working capital adjustment of approximately $5,900, and $5,000 in Aceto stock. The purchase agreement also provides for a three-year earn-out of up to $15,000 in cash based on the achievement of certain performance-based targets.

On December 10, 2013, the Company acquired all of the outstanding stock of a company in France which has been accounted for as a business combination.  The impact of this business combination on the Company’s condensed consolidated balance sheet as of March 31, 2014 and its condensed consolidated statement of income for the period ended March 31, 2014 was not material.