Central Garden & Pet Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisitions

Acquisitions

9 Months Ended

Jun. 27, 2020

C&S Products

In May 2019, the Company purchased C&S Products, a manufacturer of suet and other wild bird feed products, to complement our existing wild bird feed business for approximately $30.0 million. Subsequent to the acquisition, approximately $4.7 million of cash was used to eliminate the acquired long-term debt. The financial results of C&S Products 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	$	9,794	$	441	$	10,235
Fixed assets	23,743		(3,786)		19,957
Goodwill	—		3,777		3,777
Other assets	5,081		(3,242)		1,839
Other intangible assets, net	—		2,810		2,810
Current liabilities	(2,137)		—		(2,137)
Long-term obligations	(6,457)		$	—	(6,457)
Net assets acquired, less cash and cash equivalents	$	30,024	$	—	$	30,024

(1) As previously reported in the Company's Form 10-K for the period ended September 28, 2019.

The impact to the consolidated statement of operations associated with the finalization of purchase accounting and true-up of intangible assets for C&S Products during the quarter ended December 28, 2019 was immaterial.