v3.26.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Jun. 27, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Changes in Carrying Amount of Goodwill The following table presents the changes in the carrying amount of goodwill:

(In millions)

 

Foodservice

 

 

Convenience

 

 

Specialty

 

 

Other

 

 

Total

 

Balance as of June 29, 2024

 

$

1,300.9

 

 

$

884.1

 

 

$

133.4

 

 

$

99.9

 

 

$

2,418.3

 

Acquisitions

 

 

1,052.5

 

 

 

11.2

 

 

 

—

 

 

 

3.1

 

 

 

1,066.8

 

Adjustments related to prior year acquisition (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(5.0

)

 

 

(5.0

)

Balance as of June 28, 2025

 

 

2,353.4

 

 

 

895.3

 

 

 

133.4

 

 

 

98.0

 

 

 

3,480.1

 

Acquisitions—current year

 

 

82.6

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

82.6

 

Adjustments related to prior year acquisition (1)

 

 

2.3

 

 

 

0.1

 

 

 

—

 

 

 

(0.1

)

 

 

2.3

 

Balance as of June 27, 2026

 

$

2,438.3

 

 

$

895.4

 

 

$

133.4

 

 

$

97.9

 

 

$

3,565.0

 
(1)
The fiscal 2025 and 2026 adjustments relate to prior year acquisitions and are the result of net working capital adjustments and deferred tax adjustments.
Schedule of Intangible Assets by Major Category

The following table presents the Company’s intangible assets by major category as of June 27, 2026 and June 28, 2025:

 

 

As of June 27, 2026

 

 

As of June 28, 2025

 

 

 

(In millions)

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net

 

 

Range of
Lives

Intangible assets with definite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

2,498.2

 

 

$

(1,240.0

)

 

$

1,258.2

 

 

$

2,400.1

 

 

$

(1,065.5

)

 

$

1,334.6

 

 

4 – 12 years

Trade names and trademarks

 

$

745.0

 

 

 

(507.5

)

 

 

237.5

 

 

 

716.2

 

 

 

(422.9

)

 

 

293.3

 

 

4 – 12 years

Deferred financing costs

 

$

97.9

 

 

 

(76.0

)

 

 

21.9

 

 

 

97.9

 

 

 

(69.2

)

 

 

28.7

 

 

Debt term

Non-compete

 

$

45.4

 

 

 

(44.7

)

 

 

0.7

 

 

 

45.4

 

 

 

(41.6

)

 

 

3.8

 

 

2 – 5 years

Technology

 

$

36.2

 

 

 

(35.5

)

 

 

0.7

 

 

 

36.2

 

 

 

(33.7

)

 

 

2.5

 

 

5 – 8 years

Total intangible assets with definite lives

 

$

3,422.7

 

 

$

(1,903.7

)

 

$

1,519.0

 

 

$

3,295.8

 

 

$

(1,632.9

)

 

$

1,662.9

 

 

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

3,565.0

 

 

$

—

 

 

$

3,565.0

 

 

$

3,480.1

 

 

$

—

 

 

$

3,480.1

 

 

Indefinite

Trade names

 

 

25.6

 

 

 

—

 

 

 

25.6

 

 

 

25.6

 

 

 

—

 

 

 

25.6

 

 

Indefinite

Total intangible assets with indefinite lives

 

$

3,590.6

 

 

$

—

 

 

$

3,590.6

 

 

$

3,505.7

 

 

$

—

 

 

$

3,505.7

 

 

 

 
Estimated Future Amortization Expense on Intangible Assets For the next five fiscal periods and thereafter, the estimated future amortization expense on intangible assets with definite lives are as follows:

(In millions)

 

 

 

2027

 

 

237.0

 

2028

 

 

205.0

 

2029

 

 

203.6

 

2030

 

 

196.1

 

2031

 

 

189.0

 

Thereafter

 

 

488.3

 

Total amortization expense

 

$

1,519.0