Acquisitions

9 Months Ended

Jan. 31, 2014

Acquisitions [Abstract]

Acquisitions

Note 3: Acquisitions

During the second quarter, we completed two acquisitions for aggregate net cash consideration of $101.8, net of a working capital adjustment. Enray Inc. (“Enray”), a leading manufacturer and marketer of premium organic, gluten-free ancient grain products, was acquired on August 20, 2013. Silocaf of New Orleans, Inc. (“Silocaf”), a strategic investment related to our green coffee supply chain, was acquired on September 5, 2013.

The purchase price for each business acquired was allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. The purchase price allocations include total intangible assets of $37.6 for both Enray and Silocaf. To the extent the purchase price exceeded the estimated fair value of the net identifiable tangible and intangible assets acquired, the excess was allocated to goodwill. Preliminary valuations resulted in Enray goodwill of $29.0, which was assigned to the International, Foodservice, and Natural Foods segment, and Silocaf goodwill of $22.7, which was assigned to the U.S. Retail Coffee segment, as detailed below.

	U.S. Retail Coffee		U.S. Retail Consumer Foods		International, Foodservice, and Natural Foods		Total
Balance at May 1, 2012	$	1,720.3	$	1,035.2	$	299.1	$	3,054.6
Other		—		(0.6)		(1.1)		(1.7)
Balance at April 30, 2013	$	1,720.3	$	1,034.6	$	298.0	$	3,052.9
Acquisitions		22.7		—		29.0		51.7
Other		0.1		(2.8)		(5.3)		(8.0)
Balance at January 31, 2014	$	1,743.1	$	1,031.8	$	321.7	$	3,096.6

The other amounts represent foreign currency exchange.

The results of operations for both of the acquired businesses are included in the condensed consolidated financial statements from the date of the transaction and did not have a material impact on the quarter ended January 31, 2014, nor expected to materially affect results of operations for the year ending April 30, 2014.