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Acquisitions
9 Months Ended
Sep. 28, 2013
Business Combinations [Abstract]  
Acquisitions

Note 2: Acquisitions

On May 13, 2013, Snap-on acquired Challenger Lifts, Inc. (“Challenger”) for a preliminary cash purchase price of $38.2 million. The preliminary purchase price is subject to the finalization of income tax accounting for pre-acquisition tax periods that is expected to be completed in the fourth quarter of 2013. The preliminary purchase price was also subject to the finalization of a working capital adjustment that was concluded in the third quarter of 2013 and was not material.

Challenger, with 2012 sales of approximately $45 million, designs, manufactures and distributes a comprehensive line of vehicle lifts and accessories to a diverse customer base in the automotive repair sector. For segment reporting purposes, the results of operations and assets of Challenger have been included in the Repair Systems & Information Group since the date of acquisition. Pro forma financial information has not been presented as the net effects of the Challenger acquisition were neither significant nor material to Snap-on’s results of operations or financial position.