Quarterly report pursuant to Section 13 or 15(d)

Acquisitions

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Acquisitions
9 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Acquisitions
Acquisitions
General Pet Supply
On April 2, 2018, the Company purchased all of the business assets of General Pet Supply, a leading Midwestern U.S. supplier of pet food and supplies for a purchase price of approximately $24.5 million. The purchase price exceeded the estimated fair value of the net tangible assets acquired by approximately $14.1 million, which is included in other assets in the Company’s condensed consolidated balance sheet as of June 30, 2018. The Company has not yet finalized the allocation of the purchase price to the fair value of the tangible assets, intangible assets and liabilities acquired. Financial results of General Pet Supply have been included in the results of operations within the Pet segment since the date of acquisition. The acquisition is expected to broaden Central's national pet supplies distribution footprint, expand its food distribution business, and provide the Company with access to the veterinary channel.
Bell Nursery Holdings, LLC
On March 12, 2018, the Company purchased Bell Nursery Holdings, LLC ("Bell"), a leading grower and distributor of live flowers and plants in the mid-Atlantic region of the United States, for a purchase price of approximately $61 million plus contingent consideration of up to $10 million. The purchase price exceeded the estimated fair value of the net tangible assets acquired by approximately $11.6 million, which is included in other assets in the condensed consolidated balance sheet as of June 30, 2018. The Company has not yet finalized the allocation of the purchase price to the fair value of the tangible assets, intangible assets and liabilities acquired. Financial results of Bell have been included in the results of operations within the Garden segment since the date of acquisition. The acquisition is expected to complement the Company's existing garden portfolio.
K&H Manufacturing
On April 28, 2017, the Company purchased K&H Manufacturing ("K&H"), a producer of premium pet supplies and the largest marketer of heated pet products in the country, for a purchase price of approximately $48.0 million. The purchase price exceeded the estimated fair value of the net tangible assets acquired by approximately $41.8 million, of which $29.2 million was allocated to identified intangible assets and approximately $12 million is included in goodwill in the Company’s condensed consolidated balance sheet as of June 30, 2018. Financial results of K&H 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.
In thousands
 
Amounts Previously Recognized as of Acquisition Date (1)
 
Measurement Period Adjustments
 
Amounts Recognized as of Acquisition Date (as Adjusted)
Current assets, net of cash and cash equivalents acquired
 
$
5,439

 
$
613

 
$
6,052

Land, buildings, improvements and equipment - net
 
315

 

 
315

Goodwill
 

 
11,968

 
11,968

Other assets
 
41,781

 
(41,781
)
 

Other intangible assets - net
 

 
29,200

 
29,200

Current liabilities
 
(757
)
 

 
(757
)
Net assets acquired, less cash and cash equivalents
 
$
46,778

 
$

 
$
46,778

(1) As previously reported in the Company's Form 10-Q for the periods ended June 24, 2017 and December 30, 2017, and the Company's Form 10-K for the period ended September 30, 2017.
Proforma financial information has not been presented as the General Pet Supply, Bell and K&H acquisitions were not considered material to the Company's overall consolidated financial statements during the periods presented.