Acquisitions and Divestitures |
6 Months Ended |
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Jun. 28, 2025 | |
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
Acquisitions and Divestitures | Acquisitions and Divestitures The Company strategically acquires companies and assets to increase its footprint and offer products and services that diversify its existing offerings, primarily through asset purchase agreements. These acquisitions are accounted for as business combinations using the acquisition method, whereby the purchase price is allocated to the assets acquired and liabilities assumed, based on their fair values as of the date of the acquisition with the remaining amount recorded in goodwill. 2025 Acquisitions The Company completed four acquisitions within the Take 5 segment during the six months ended June 28, 2025, representing four sites, for an aggregate cash consideration, net of cash acquired and liabilities assumed, of $7 million. 2024 Acquisitions The Company completed one acquisition within the Take 5 segment and one non-U.S. acquisition in the Car Wash segment during the six months ended June 29, 2024, representing two sites and one site, respectively, for an aggregate cash consideration, net of cash acquired and liabilities assumed, of less than $2 million. 2025 Divestitures 2024 Divestitures During the six months ended June 29, 2024, the Company sold nine company-operated stores within the Franchise Brands segment to a franchisee at a sale price of $18 million resulting in a gain of $6 million on the sale of businesses within selling, general, and administrative expenses on the consolidated statement of operations during the six months ended June 29, 2024.
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