v3.26.3
Assets and Liabilities Held for Sale
12 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Assets and Liabilities Held for Sale
4.
ASSETS AND LIABILITIES HELD FOR SALE

During the third quarter of fiscal year 2025, the Company announced that it was exploring strategic alternatives regarding its personal care (“PC”) business to focus on its portfolio of better-for-you food and beverages. The Company determined that its PC business was held for sale and ascribed an aggregate $11,000 of goodwill from its U.S. and Canada reporting units, which comprise the North America reportable segment, to the PC business. The operating results of the business were not significant. Although the market conditions have deteriorated, the Company continues to expect that it will sell or dispose of these assets within 12 months. During the fiscal years ended June 30, 2026 and 2025, the Company recorded non-cash charges of $11,200 and $26,843 to write down the carrying amount of the disposal group to its estimated fair value less cost to dispose, which was reflected within long-lived asset and intangibles impairment on the consolidated statements of operations. During the fiscal year ended June 30, 2026, the Company completed the exit of the Yves Veggie Cuisine® plant-based business in Canada (“Yves”) and accordingly classified its remaining property, plant and equipment, net, with a remaining carrying value of $2,545 as held for sale. In the fourth quarter of fiscal 2026, the Company entered into a contract to sell the former Yves facility in Delta, Canada for 13,800 Canadian dollars (approximately $9,700 at the June 30, 2026 closing exchange rate). The sale is subject to customary closing conditions and is expected to close in the second quarter of the 2027 fiscal year.

The following table presents the major classes of assets and liabilities of the personal care and Yves Veggie Cuisine® plant-based businesses classified as held for sale:

 

Fiscal Year Ended

 

 

Fiscal Year Ended

 

 

June 30, 2026

 

 

June 30, 2025

 

ASSETS

 

 

 

 

 

 

Accounts receivable, net

 

$

 

 

$

7,121

 

Inventories

 

 

23,602

 

 

 

30,347

 

Prepaid expenses and other current assets

 

 

 

 

 

1,112

 

Property, plant and equipment, net

 

 

3,493

 

 

 

918

 

Goodwill

 

 

10,852

 

 

 

11,164

 

Other noncurrent assets

 

 

85

 

 

 

80

 

Operating lease right-of-use assets, net

 

 

5,483

 

 

 

5,704

 

Allowance for reduction of assets held for sale

 

 

(37,633

)

 

 

(26,843

)

Assets held for sale

 

$

5,882

 

 

$

29,603

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

$

4,153

 

 

$

5,793

 

Accounts payable

 

 

 

 

 

5,432

 

Accrued expenses and other current liabilities

 

 

 

 

 

1,762

 

Liabilities held for sale

 

$

4,153

 

 

$

12,987