Note O - Acquisition |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Notes to Financial Statements | |
| Business Combination [Text Block] |
Note O – Acquisition
During the three months ended September 30, 2026, the Company acquired the business and substantially all of the assets of ASL Solutions, Inc (“ASL”) for a cash purchase price of approximately $1.9 million. ASLis a leading manufacturer of premium insulated dog houses and expands the Company’s ability to develop and grow product lines by adding complementary manufacturing capabilities and a differentiated product platform to its existing portfolio. The ASL assets acquired at close included $0.6 million in inventory, $0.5 million of property, plant and equipment assets, $0.2 million in trademarks, $0.6 million in customer lists and immaterial amounts of other assets. The acquired trademarks will be amortized using the straight-line method over 20 years and the acquired customer lists will be amortized using the straight-line method over 10 years.
This acquisition was not and would not have been material to the Company’s net sales, results of operations or total assets during the three months ended September 30, 2026. Accordingly, our consolidated results from operations do not differ materially from historical performance as a result of this acquisition, and therefore, pro-forma results are not presented.
|