Annual report pursuant to Section 13 and 15(d)

Subsequent Event

Subsequent Event
12 Months Ended
Dec. 28, 2023
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
The Company has interest cap agreements that expire in April 2024 (see Note 8, “Derivatives and Risk Management” for additional details). To reduce interest rate risk associated with the Company’s Term Loan Facility, the Company entered into an interest rate cap agreement on January 15, 2024 with a notional value of $150.0 million. The contract is designated as a cash flow hedge. The contract effectively caps SOFR based interest payments on a portion of the Company’s Term Loan Facility at 5.50% beginning in May 2024 and will continue until the agreement expires in April 2026.