Pottery Barn 2011 Annual Report Download - page 76
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Note N: Acquisition
On November 1, 2011, we acquired Rejuvenation Inc. (“Rejuvenation”), a leading manufacturer and multi-
channel retailer of authentic reproduction lighting and high-end door and cabinet hardware, for total
consideration of approximately $25,657,000. The purchase price was allocated to the net tangible and intangible
assets based on their estimated fair values as of November 1, 2011. Such estimated fair values require
management to make estimates and judgments, especially with respect to intangible assets.
The allocation of the purchase price to the fair value of assets acquired and liabilities assumed was as follows:
Dollars in thousands
Merchandise inventories $ 5,089
Other assets 565
Property and equipment 4,718
Intangible assets 180
Goodwill 18,089
Total liabilities (2,984)
Total purchase price $ 25,657
Results of operations of Rejuvenation have been included in our Consolidated Statements of Earnings since the
November 1, 2011 acquisition date. Pro forma results of the acquired business have not been presented as the
results were not material to our consolidated financial statements for all years presented and would not have been
material had the acquisition occurred at the beginning of fiscal 2011.
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