CONTINGENCIES |
9 Months Ended |
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Sep. 27, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| CONTINGENCIES | CONTINGENCIES Litigation Matters The Company is involved in litigation and other matters incidental to the conduct of its business, the results of which, in the opinion of management, are not likely to be material to the Company’s financial condition, results of operations or cash flows. Please refer to Note 17. Subsequent Events, for information regarding demands and complaints related to the Transactions. Guarantees The Company partially guarantees loans made to IOs by Bank of America for the purchase of routes. The outstanding balance of loans guaranteed that were issued by Bank of America was $69.7 million and $69.5 million at September 27, 2026 and December 28, 2025, respectively, which loans are accounted for as off balance sheet arrangements. As discussed in Note 7. Notes Receivable, the Company also sold notes receivable on its books to Bank of America during the thirty-nine weeks ended September 27, 2026 and September 28, 2025, which the Company partially guarantees. The outstanding balance of notes purchased by Bank of America at September 27, 2026 and December 28, 2025 was $9.7 million and $12.5 million, respectively. Due to the structure of the transactions, the sales did not qualify for sale accounting treatment, and as such the Company records the notes payable obligation owed by the IOs to the financial institution on its Consolidated Balance Sheets; the corresponding notes receivable also remain in the Company’s Consolidated Balance Sheets. The maximum amount of future payments the Company could be required to make under these guarantees equates to 25% of the outstanding loan balance on the first day of each calendar year plus 25% of the amount of any new loans issued during such calendar year. Additionally, the Company guarantees loans for the purchase of routes made by one other bank. The outstanding balance of these loans was $0.5 million and $1.3 million at September 27, 2026 and December 28, 2025, respectively, all of which was included in the Company's Consolidated Balance Sheets at September 27, 2026 and December 28, 2025, respectively. The maximum amount of future payments the Company could be required to make under these guarantees equates to 25% of the outstanding loan balance. All of the above IO loans are collateralized by the routes for which the loans are made. Accordingly, the Company has the ability to recover substantially all of the outstanding loan value upon default. Product recall In May 2026, the Company issued a voluntary recall in the United States of certain limited varieties of Zapp’s® and Dirty® potato chips. This voluntary recall follows notification that a seasoning containing dry milk powder, sourced from California Dairies, Inc. and supplied by a third-party supplier, may contain the presence of Salmonella. The affected seasoning batches tested negative for Salmonella prior to use; however, out of an abundance of caution, the Company recalled limited varieties of Zapp’s® and Dirty® brand potato chips. The Company does not expect the recall to have a material effect on its consolidated financial statements.
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