Subsequent Event

6 Months Ended

Jul. 04, 2021

Subsequent Event [Abstract]

Subsequent Event

Note 15.  Subsequent Event

On July 26, 2021, the Company completed the acquisition of Normerica Inc., a leading North American supplier of premium pet care products for approximately $185 million. Normerica has production facilities in Canada, the U.S. and Thailand. As a leader in the pet product industry, Normerica provides premium products, both branded and private label to world-class retailers. Its product portfolio consists primarily of bentonite-based cat litter products which are supplied from a network of strategically located manufacturing facilities in Canada and the United States. Normerica has approximately 300 employees and generated revenue of $140 million in 2020. The acquisition was financed through a combination of cash on hand and the Company’s credit facilities.