Acquisitions and Divestitures |
12 Months Ended |
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Dec. 27, 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 seven acquisitions within the Take 5 segment during the year ended December 27, 2025, representing eight sites, for an aggregate cash consideration, net of cash acquired and liabilities assumed, of $12 million. 2024 Acquisitions The Company completed one acquisition within the Take 5 segment during the year ended December 28, 2024, representing two sites for an aggregate cash consideration, net of cash acquired and liabilities assumed, of less than $1 million. 2023 Acquisitions The Company completed six acquisitions within the Take 5 segment during the year ended December 30, 2023, representing six sites. The aggregate cash consideration for these acquisitions, net of cash acquired and liabilities assumed, was approximately $9 million. The Company completed two acquisitions in the Auto Glass Now segment during the year ended December 30, 2023, representing two sites. The aggregate cash consideration for these acquisitions, net of cash acquired and liabilities assumed, was approximately $6 million. The Company estimated the fair value of acquired assets and liabilities as of the date of acquisition based on information currently available. As the Company finalizes the fair value of assets acquired and liabilities assumed, additional purchase price adjustments may be recorded during the measurement period for the 2025 acquisitions. Purchase accounting allocations are complete for all 2023 and 2024 acquisitions. Goodwill represents the excess of the consideration paid over the fair value of net assets acquired and includes the expected benefit of synergies within the existing segments and intangible assets that do not qualify for separate recognition. Goodwill, which was allocated to the Take 5 and Auto Glass Now segments, is substantially all deductible for income tax purposes. Deferred Consideration and Transaction Costs Deferred consideration is typically paid six months to one-year after the acquisition closing date once all conditions under the purchase agreement have been satisfied. The Company had less than $1 million and $2 million of deferred consideration related to acquisitions as of December 27, 2025 and December 28, 2024, respectively. The Company paid less than $1 million, $1 million, and $25 million of deferred consideration related to prior acquisitions during the years ending December 27, 2025, December 28, 2024, and December 30, 2023 respectively. Deferred consideration is recorded within investing activities at the time of payment. The Company incurred less than $1 million of transaction costs relating to the acquisitions above during the years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively. 2025 Divestitures 2024 Divestitures During the third quarter 2024, the Company completed the sale of its Canadian distribution business, primarily operated under the PH Vitres D’Auto brand, within the Corporate segment at a purchase price of approximately $78 million. The sale included essentially all assets and liabilities associated with the business as well as allocated goodwill of $13 million resulting in a loss of $2 million on the sale of business within selling, general, and administrative expenses on the consolidated statements of operations during the year ended December 28, 2024. Approximately $47 million of the sale proceeds were utilized to repay a portion of outstanding secured senior notes with the remainder primarily utilized to repay a portion of the previously outstanding Term Loan Facility. During the year ended December 28, 2024, the Company sold nine company-operated stores within the Franchise Brands segment to a franchisee at a sale price of $18 million. The Company sold certain store assets as well as allocated $9 million of Franchise Brands goodwill based on the fair value of the segment at the time of sale, resulting in a gain of $5 million on the sale of businesses within selling, general, and administrative expenses on the consolidated statements of operations.
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