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Acquisitions
3 Months Ended
Dec. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
On November 3, 2023, the Company acquired TDBBS, LLC (“TDBBS”), a provider of premium natural dog chews and treats for
approximately $60 million.  The addition of TDBBS expands the Company’s portfolio with bully and collagen sticks, bones and jerky, adds
scale to its dog and cat business and enhances the Company’s eCommerce and direct-to-consumer capabilities. The purchase price
exceeded the estimated fair value of the net tangible assets acquired by approximately $45 million, of which $23 million was allocated to
identified intangible assets and approximately $5 million to goodwill in the Company's condensed consolidated balance sheet as of December
28, 2024. Financial results of TDBBS have been included in the results of operations within the Pet segment since the date of acquisition.
The following table summarizes the purchase price and recording of fair values of the assets acquired and liabilities assumed as of the
acquisition date and subsequent adjustments.
Amounts Recognized as of
Acquisition Date (1)
Current assets, net of cash and cash equivalents acquired
$22,968
Fixed assets
2,369
Goodwill
4,925
Operating lease right-of-use assets
3,956
Deferred tax assets
15,859
Other intangible assets, net
22,970
Current liabilities
(9,094)
Long-term lease liabilities
(3,727)
Net assets acquired, less cash and cash equivalents
$60,226
(1)  As previously reported in the Company's Form 10-K for the period ended September 28, 2024.