Acquisitions Acquisitions (Tables)

12 Months Ended

Jun. 30, 2016

Summary of the Components of the Purchase Price Allocations

The following table summarizes the components of the purchase price allocations for the fiscal 2014 acquisitions (as revised):



	Tilda			Rudi’s			Total
Purchase price:
Cash paid, net of cash acquired	$	123,822		$	50,807		$	174,629
Equity issued	148,353			11,168			159,521
Vendor Loan Note	32,958			—			32,958
	$	305,133		$	61,975		$	367,108
Allocation:
Current assets, excluding cash acquired	$	88,470		$	8,158		$	96,628
Property, plant and equipment	39,806			3,774			43,580
Identifiable intangible assets	124,549			27,514			152,063
Assumed liabilities	(93,743		)	(6,690		)	(100,433		)
Deferred income taxes	(26,527		)	1,932			(24,595		)
Goodwill	172,578			27,287			199,865
	$	305,133		$	61,975		$	367,108

The following table summarizes the components of the purchase price allocations for the fiscal 2016 acquisitions:



	Mona			Orchard House			Total
Purchase Price:
Cash paid, net of cash acquired	$	24,948		$	114,113		$	139,061
Equity issued	16,308			—			16,308
Fair value of contingent consideration	—			2,225			2,225
	$	41,256		$	116,338		$	157,594
Allocation:
Current assets, excluding cash acquired	$	17,526		$	18,960		$	36,486
Property, plant and equipment	16,583			18,594			35,177
Other long term assets	226			—			226
Identifiable intangible assets	14,803			54,888			69,691
Deferred taxes	(1,012		)	(9,463		)	(10,475		)
Assumed liabilities	(27,651		)	(23,660		)	(51,311		)
Goodwill	20,781			57,019			77,800
	$	41,256		$	116,338		$	157,594

The following table summarizes the components of the purchase price allocations for the fiscal 2015 acquisitions (as revised):



	HPPC			Belvedere			Empire			Total
Carrying value of pre-existing interest, after fair value adjustments:	$	36,074		$	—		$	9,786		$	45,860
Purchase Price:
Cash paid, net of cash acquired	20,310			13,988			57,595			91,893
Equity issued	19,690			—			—			19,690
Fair value of contingent consideration	—			1,603			—			1,603
	$	76,074		$	15,591		$	67,381		$	159,046
Allocation:
Current assets, excluding cash acquired	$	50,464		$	10,542		$	19,774		$	80,780
Property, plant and equipment	29,599			2,598			12,334			44,531
Other assets	7,288			—			—			7,288
Identifiable intangible assets	20,700			5,850			34,800			61,350
Deferred taxes	490			(3,890		)	(14,764		)	(18,164		)
Assumed liabilities	(42,332		)	(1,825		)	(15,987		)	(60,144		)
Goodwill	9,865			2,316			31,224			43,405
	$	76,074		$	15,591		$	67,381		$	159,046

Summary of Unaudited Pro Forma Results of Continuing Operations

The following table provides unaudited pro forma results of continuing operations for the fiscal years ended June 30, 2016 and 2015, as if the acquisitions of Orchard House and Mona had been completed at the beginning of fiscal 2015. The information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the combined company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results.



	Fiscal Year Ended June 30,
	2016		2015
Net sales from continuing operations	$	2,973,872	$	2,947,536
Net income from continuing operations	$	51,270	$	177,435
Net income per common share from continuing operations - diluted	$	0.49	$	1.71

The following table provides unaudited pro forma results of continuing operations for the fiscal year ended June 30, 2014, as if the acquisitions completed in fiscal 2014 (Rudi’s and Tilda) had been completed at the beginning of fiscal year 2014. The information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the Company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results, which include amortization expense associated with acquired identifiable intangible assets and interest expense associated with bank borrowings to fund the acquisitions.



	Fiscal Year Ended June 30, 2014 (Revised)
Net sales from continuing operations	$	2,264,751
Net income from continuing operations	$	141,605
Net income per common share from continuing operations - diluted	$	1.40

The following table provides unaudited pro forma results of continuing operations for the fiscal years ended June 30, 2015 and 2014, as if the acquisitions completed in fiscal 2015 (HPPC, Belvedere and Empire) had been completed at the beginning of fiscal year 2014. The information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the combined company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results, which include amortization expense associated with acquired identifiable intangible assets and the impact of reversing our previously recorded equity in HPPC’s net income as prior to the date of acquisition, HPPC was accounted for under the equity-method of accounting.



	Fiscal Year Ended June 30,
	2015 (Revised)		2014 (Revised)
Net sales from continuing operations	$	2,718,466	$	2,512,384
Net income from continuing operations	$	168,196	$	138,286
Net income per common share from continuing operations - diluted	$	1.63	$	1.38