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EQUITY METHOD INVESTMENT
9 Months Ended
Jun. 26, 2026
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY METHOD INVESTMENT
4. EQUITY METHOD INVESTMENT

On April 7, 2026, the Company completed the sale of the HDPE business to Infra Pipes Solutions U.S Corp. As a result of the transaction, the Company received a 9.9% equity interest in Infra Pipes and contingent consideration. See Note 3, “Divestitures” for additional details.

The Company’s 9.9% equity interest in Infra Pipes was initially recorded at fair value within Equity Method Investment on the Condensed Consolidated Balance Sheets as of June 26, 2026, and will subsequently be accounted for under the equity method of accounting because the Company has significant influence, primarily through its representation on Infra Pipes’ board of directors, but not a controlling interest.

Infra Pipes is a private North American manufacturer of polyethylene pipe and conduit products serving water, sewer, gas, telecommunications, mining and energy markets. Infra Pipes’ financial information is not available in time for concurrent reporting in the Company’s consolidated financial statements. Therefore, the Company reports the equity method effects for Infra Pipes on a one-quarter lag. The Company’s earnings for the fourth quarter of 2026 will include the Company’s equity method share of Infra Pipes third quarter earnings.