McPHERSON’S LIMITED
ANNUAL REPORT 2015
81
(B) PRIOR PERIOD
(i) Maseur
On 1 July 2013, the Group’s Australian consumer products business acquired the brandname and associated assets of Maseur, a leading supplier of
quality comfort footwear. Details of the purchase consideration and the net assets acquired are as follows:
$’000
Purchase consideration
Total purchase consideration – cash paid
5,257
The assets acquired were as follows:
Inventories
206
Brandnames
5,051
Total assets acquired
5,257
Purchase consideration – cash outflow
Cash consideration paid
5,257
Outflow of cash to acquire business assets – investing activities
5,257
(ii) Think Appliances, the Baumatic brandname and Lemair
On 29 October 2013, the Group’s Home Appliance business acquired the business assets of Think Appliances, a supplier of quality kitchen
appliances including upright cookers, ovens, cooktops, rangehoods, dishwashers, microwaves, coffee machines and warming drawers. The Group
also acquired the Baumatic brandname as part of this transaction, which was previously an agency relationship for the Think Appliances business.
On 28 March 2014 the Group’s Home Appliances business acquired the business assets of Tecma Lemair Pty Ltd, a supplier of quality refrigerators,
freezers and small washing machines. A total consideration of $2,908,000 was paid for these three acquisitions.
Details of the purchase consideration, the net assets acquired and goodwill are as follows:
Purchase consideration
Total purchase consideration - cash paid
2,908
The assets and liabilities recognised as a result of these acquisitions were as follows:
Inventories
1,862
Plant and equipment
5
Brandnames
1,403
Deferred tax assets
348
Employee entitlements
(83)
Provision for warranty
(1,075)
Net identifiable assets acquired
2,460
Add: Goodwill
448
Net assets acquired
2,908
Purchase consideration – cash outflow
Cash consideration paid
2,908
Outflow of cash to acquire business assets – investing activities
2,908