Company: GGG
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000042888-25-000025
Chunk: 13

Company: GRACO INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 13
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 to assets acquired and liabilities assumed based on estimated fair values as follows (in thousands):Cash and cash equivalents$30,899 Accounts receivable28,120 Inventories26,119 Other current assets18,515 Property, plant and equipment16,619 Other non-current assets5,854 Identifiable intangible assets131,240 Goodwill127,252 Current liabilities(52,968)Deferred income taxes, net(33,474)Other non-current liabilities(7,490)Total net assets acquired$290,686 Goodwill recognized from the Corob acquisition primarily reflects an intangible asset that does not qualify for separate recognition. None of the goodwill acquired with Corob is deductible for tax purposes.Identifiable intangible assets and estimated useful life are as follows (in thousands):Estimated Life (years)Trade name$32,458 IndefiniteCustomer relationship76,169 15Developed technology20,557 10Backlog2,056 0.5Total identifiable intangibles assets$131,240 

14

The following unaudited pro forma information provides the results of operations for the periods ended June 27, 2025 and June 28, 2024, as if the acquisition had been completed at the beginning of fiscal year 2023 (in thousands, except per share amounts):  Three Months EndedSix Months EndedJune 27,2025June 28,2024June 27,2025June 28,2024Net sales$571,806 $588,253 $1,100,090 $1,113,273 Net earnings128,138 134,698 253,258 257,755 Earnings per shareBasic$0.77 $0.80 $1.51 $1.53 Diluted$0.76 $0.78 $1.49 $1.49 Unaudited pro forma information has been provided for comparative purposes only and the information does not necessarily reflect what the combined company's results of operations would have been had the acquisition occurred at the beginning of 2023. It also may not be useful in predicting the future results of operations of the combined company. The Company completed another acquisition in 2024 that was not material to the consolidated financial statements.

Subsequent EventOn July 17, 2025, the Company entered into a definitive agreement to acquire Color Service s.r.l. ("Color Service") for