v3.26.1
Business Acquisitions
 9 Months Ended
Jun. 27, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Acquisitions Business Acquisitions
Business acquisition-related costs during the three months ended June 27, 2026 and June 28, 2025 were $0.2 million and $0.4 million, respectively. Business acquisition-related costs during the nine months ended June 27, 2026 and June 28, 2025 were $1.0 million and $7.5 million, respectively. Separate financial results and pro forma financial information for ASR (defined below) have not been presented as the effect of this acquisition was not material to the Company’s financial results.
Advanced Systems & Robotics Inc.
On January 27, 2025, the Company acquired all of the outstanding equity interests of Walmart’s Advanced Systems & Robotics Inc. (“ASR”) for $200.0 million in cash (the “ASR Acquisition”) pursuant to a Purchase and Sale Agreement with Walmart (the “ASR Purchase Agreement”). The ASR Acquisition is intended to expand the long-standing relationship between Walmart and the Company with the aim of developing an integrated automated supply chain, which is expected to broaden the Company’s product offering beyond the traditional warehouse to eCommerce settings for last mile delivery. The Company finalized its allocation of the purchase price in the second quarter of fiscal year 2026.
The final allocation of the purchase price for ASR and fair values of the assets acquired and liabilities assumed were as follows (in thousands):
Total purchase price
$
200,000 
Consideration payable to customer
(45,000)
Employee cost reimbursement asset
(13,169)
Purchase price - business combination
$
141,831 
Allocation of the purchase price - business combination
Inventories
$
13,749 
Prepaid expenses and other current assets
24,634 
Property and equipment, net
4,261 
Intangible assets
78,000 
Other assets
2,223 
Total assets acquired
122,867 
Accrued expenses and other current liabilities
38,296 
Other liabilities
2,611 
Total liabilities assumed
40,907 
Identifiable net assets acquired
81,960 
Goodwill
59,871 
Total purchase price allocation
$
141,831 
The value of the goodwill can be attributed to a number of business factors, including a trained technical workforce, and revenue and cost synergies expected to be realized. The Company expects that most of the goodwill related to the ASR Acquisition will not be deductible for tax purposes.
The identified intangible asset acquired is developed technology, which has a gross carrying amount of $78.0 million and has an estimated useful life of 7 years.
The Company applied the multi-period excess earnings method to estimate the fair value of the intangible asset. The total weighted average amortization period for the developed technology intangible asset acquired from Walmart is 7 years. The intangible asset began amortization on the date of acquisition and is amortized on a straight-line basis over its useful life.