Note 11 - Goodwill and Intangible Assets

9 Months Ended

Jun. 27, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

Note 11

Goodwill and Intangible Assets

Intangible Assets

Our reportable segments are Food Service, Retail Supermarkets and Frozen Beverages.

The carrying amounts of acquired intangible assets for the Food Service, Retail Supermarkets and Frozen Beverages segments as of June 27, 2026 and September 27, 2025 are as follows:

		June 27, 2026								September 27, 2025
		Gross								Gross
		Carrying				Accumulated				Carrying				Accumulated
		Amount				Amortization				Amount				Amortization
		(in thousands)
FOOD SERVICE

Indefinite lived intangible assets
Trade names		$	85,424			$	-			$	85,424			$	-

Amortized intangible assets
Trade names			-				-				2,515				2,515
Franchise agreements			8,500				3,400				8,500				2,763
Customer relationships			23,550				16,516				23,550				14,749
Technology			23,110				9,210				23,110				7,493
License and rights			-				-				1,690				1,734

TOTAL FOOD SERVICE		$	140,584			$	29,126			$	144,789			$	29,254

RETAIL SUPERMARKETS

Indefinite lived intangible assets
Trade names		$	11,181			$	-			$	11,181			$	-

TOTAL RETAIL SUPERMARKETS		$	11,181			$	-			$	11,181			$	-


FROZEN BEVERAGES

Indefinite lived intangible assets
Trade names		$	9,315			$	-			$	9,315			$	-
Distribution rights			36,100				-				36,100				-

Amortized intangible assets
Customer relationships			1,439				1,061				1,439				968
Licenses and rights			1,400				1,400				1,400				1,352

TOTAL FROZEN BEVERAGES		$	48,254			$	2,461			$	48,254			$	2,320

CONSOLIDATED		$	200,019			$	31,587			$	204,224			$	31,574

Amortizing intangible assets are being amortized by the straight-line method over periods ranging from 10 to 20 years and amortization expense is reflected throughout operating expenses. Aggregate amortization expense of intangible assets for the three months ended June 27, 2026 and June 28, 2025 was $1.4 million and $1.9 million, respectively. Aggregate amortization expense of intangible assets for the nine months ended June 27, 2026 and June 28, 2025 was $4.2 million and $5.9 million, respectively.

Estimated amortization expense for the next five fiscal years is approximately $1.4 million in 2026 (excluding the nine months ended June 27, 2026), $4.7 million in 2027, $4.3 million in 2028 and 2029, and $4.2 million in 2030.

The weighted amortization period of the intangible assets, in total, is 10.0 years. The weighted amortization period by intangible asset class is 10 years for Technology, 10 years for Customer relationships, 20 years for Licenses & rights, and 10 years for Franchise agreements.

Goodwill

The carrying amounts of goodwill for the Food Service, Retail Supermarket and Frozen Beverage segments are as follows:

		June 27,				September 27,
		2026				2025
		(in thousands)
Food Service		$	124,426			$	124,426
Retail Supermarket			4,146				4,146
Frozen Beverages			56,498				56,498
Total goodwill		$	185,070			$	185,070