Acquisitions (Tables)

12 Months Ended

Dec. 28, 2019

Business Combinations [Abstract]

Business Combination Transfer Consideration

The total consideration paid by the Company in the Crystal Rock Acquisition is summarized below:

(in millions of U.S. dollars)
Cash paid to sellers	$	20.7
Cash paid on behalf of sellers for sellers’ transaction expenses	0.8
Total consideration	$	21.5

The total consideration paid by DSS in the Mountain Valley Acquisition is summarized below:

(in millions of U.S. dollars)
Cash paid to sellers	$	62.5
Cash paid on behalf of sellers for sellers’ transaction expenses	1.8
Cash paid to retire outstanding debt on behalf of sellers	16.1
Working capital settlement	(0.4		)
Total consideration	$	80.0

Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed

The table below summarizes the originally reported estimated acquisition date fair values, measurement period adjustment recorded and the final purchase price allocation of the assets acquired and liabilities assumed:

(in millions of U.S. dollars)	Originally Reported			Measurement Period Adjustments			Acquired Value
Cash and cash equivalents	$	1.6		$	—		$	1.6
Accounts receivable	6.4			—			6.4
Inventory	2.2			—			2.2
Prepaid expenses and other current assets	2.2			—			2.2
Property, plant and equipment	8.9			—			8.9
Goodwill	13.7			0.5			14.2
Intangible assets	12.6			—			12.6
Other assets	0.1			—			0.1
Short-term borrowings	(4.1		)	—			(4.1		)
Current maturities of long-term debt	(1.6		)	—			(1.6		)
Accounts payable and accrued liabilities	(6.7		)	—			(6.7		)
Long-term debt	(10.4		)	—			(10.4		)
Deferred tax liabilities	(2.5		)	(0.5		)	(3.0		)
Other long-term liabilities	(0.9		)	—			(0.9		)
Total	$	21.5		$	—		$	21.5

The table below summarizes the originally reported estimated acquisition date fair values, measurement period adjustments recorded and the final purchase price allocation of the assets acquired and liabilities assumed:

(in millions of U.S. dollars)	Originally Reported			Measurement Period Adjustments			Acquired Value
Cash and cash equivalents	$	8.2		$	—		$	8.2
Accounts receivable	4.2			—			4.2
Inventory	2.3			—			2.3
Prepaid expenses and other assets	0.2			—			0.2
Property, plant and equipment	38.5			3.0			41.5
Goodwill	20.5			(4.5		)	16.0
Intangible assets	25.8			2.6			28.4
Accounts payable and accrued liabilities	(19.3		)	(1.5		)	(20.8		)
Total	$	80.4		(0.4		)	80.0

Components of Identified Intangible Assets and Estimated Weighted Average Useful Lives

The following table sets forth the components of identified intangible assets associated with the Crystal Rock Acquisition and their estimated weighted average useful lives:

(in millions of U.S. dollars)	Estimated Fair Market Value		Weighted Average Estimated Useful Life
Customer relationships	$	8.4	11 years
Trademarks and trade names	4.2		Indefinite
Total	$	12.6

The following table sets forth the components of identified intangible assets associated with the Mountain Valley Acquisition and their estimated weighted average useful lives:

(in millions of U.S. dollars)	Estimated Fair Market Value		Weighted Average Estimated Useful Life
Customer relationships	$	10.0	20 years
Trademarks and trade names	18.4		Indefinite
Total	$	28.4