approval at the extraordinary general meeting of the shareholders of cch held on august 27 , 2020. ubi was determined to be the accounting acquirer and ubh was determined to be the accounting acquiree , in accordance with asc 810 , as the company is considered to be the primary beneficiary of ubh after the business combination . under the asc 805 , business combinations , acquisition method of accounting , purchase price allocation of assets acquired and liabilities assumed of ubh are presented based on their estimated fair values as of the closing of the business combination . as a result of the business combination , ubi 's financial statement presentation distinguishes ubh as the “ predecessor ” for periods prior to the closing of the business combination . ubi , which includes consolidation of ubh subsequent to the business combination , is the “ successor ” for periods after the closing of the business combination . as a result of the application of the acquisition method of accounting in the successor period , the financial statements for the successor period are presented on a full step-up basis as a result of the business combination , and are therefore not comparable to the financial statements of the predecessor period that are not presented on the same full step-up basis due to the business combination . key developments and trends our management team monitors a number of developments and trends that could impact our revenue and profitability objectives . long-term demographics , consumer trends , and demand – we participate in the attractive and growing $ 28 billion u.s. salty snacks category , within the broader $ 97 billion market for u.s. snack foods . the salty snacks category has grown retail sales at an approximately 5.6 % compound annual growth rate ( “ cagr ” ) over the last four years , including the increased in-home consumption of salty snacks due to covid-19 during 2020. during fiscal 2020 , snacking occasions are on the rise as consumers increasingly seek out convenient , delicious snacks for both on-the-go and at-home lifestyles . according to data from the hartman group , the consumer goods forum , and iri , approximately 50 % of u.s. eating occasions are snacks , with 95 % of the u.s. population snacking daily and the average american snacking 2.6 times per day based upon the latest available iri data . additionally , the salty snacks category has historically benefited from favorable competitive dynamics , including low private label penetration and category leaders competing primarily through marketing and innovation . we expect these consumer and category trends to continue to drive strong retail sales growth for salty snacks . as a staple food product with resilient consumer demand and a predominantly domestic supply chain , the salty snack category is well positioned to navigate periods of economic disruption or other unforeseen global events . the u.s. salty snack category has demonstrated strong performance through economic downturns historically , growing at a 4 % cagr from 2007 to 2010 during the last recession . more recently , the u.s. salty snack category demonstrated strong performance during the novel coronavirus ( “ covid-19 ” ) pandemic which began in march 2020 in the u.s. for the 52 weeks ended december 27 , 2020 , u.s. retail sales for salty snacks based on iri data increased by 9.1 % versus the comparable prior year period while our retail sales increased by 15.1 % in the same period . competition – the salty snack industry is highly competitive and includes many diverse participants . our products primarily compete with other salty snacks but also compete more broadly for certain eating occasions with other snack foods . we believe that the principal competitive factors in the salty snack industry include taste , convenience , product variety , product quality , price , nutrition , consumer brand awareness , media and promotional activities , in-store merchandising execution , customer service , cost-efficient distribution , and access to retailer shelf space . we believe we compete effectively with respect to each of these factors . operating costs – our operating costs include raw materials , labor , manufacturing overhead , selling , distribution , general and administrative expenses . we manage these expenses through annual cost saving and productivity initiatives , sourcing and hedging programs , pricing actions , refinancing and tax optimization . additionally , we maintain ongoing efforts led by our project management office , or pmo , to expand our profitability , including implementing significant reductions to our operating cost structure in both supply chain and overhead costs . 41 taxes – on march 27 , 2020 , the coronavirus aid , relief , and economic security act ( “ cares act ” ) was enacted which includes various tax provisions with retroactive effect . the cares act is an approximately $ 2 trillion emergency economic stimulus package in response to the coronavirus outbreak , which among other things contains numerous income tax provisions . some of these tax provisions are effective retroactively for years ending before the date of enactment . we deferred $ 7.8 million of payroll tax deposits per the cares act . the deferred payroll taxes must be deposited in two installments , with half due on december 31 , 2021 and the remainder on december 31 , 2022. we continue to evaluate the impact of the cares act ; however , we believe it is unlikely to have a material effect on our consolidated financial position , results of operations , and cash flow . financing costs – we regularly evaluate our variable and fixed-rate debt . we continue to use low-cost , short- and long-term debt to finance our ongoing working capital , capital expenditures and other investments and dividends . story_separator_special_tag io discounts increased from $ 77.2 million in fiscal 2019 to $ 96.5 million in fiscal 2020 , reducing gross profit by $ 19.3 million . selling and administrative expense selling and administrative expenses were $ 107.5 million for the successor period , $ 195.6 million from december 30 , 2019 through august 28 , 2020 , and $ 228.3 million for the year ended december 29 , 2019. selling and administrative expenses for the combined year ended january 3 , 2021 increased $ 74.8 million or 33 % over fiscal 2019. the increased expenses in fiscal 2020 were driven by higher transaction-related service provider fees , higher operational costs related to incremental sales volume , operating expense of the acquired kennedy , kitchen cooked , h.k . anderson and truco businesses , higher incentive compensation expense and an additional 53rd week . gain ( loss ) on sale of assets gain on sale of assets was $ 0.9 million for the successor period , $ 1.3 million from december 30 , 2019 through august 28 , 2020 , and $ 13.3 million for the year ended december 29 , 2019. gain on sale of assets was primarily driven by a reduction in the number of conversions of rsp routes to io routes , which resulted in lower proceeds from the sale of routes in fiscal year 2020 compared to the same time period in fiscal year 2019. additionally , company owned routes were recorded at fair value as a result of the business combination , which resulted in increasing the io route asset by $ 10.5 million . other ( expense ) income , net other expense , net was $ 15.4 million for the successor period , $ 25.4 million from december 30 , 2019 through august 28 , 2020 , and $ 49.0 million for the year ended december 29 , 2019. the company incurred $ 2.5 million of expenses in connection with the repayment of the senior secured first lien note and incremental interest of $ 1.1 million and deferred financing fees that were expensed of $ 4.7 million related to the bridge loan in connection with the acquisition of truco during the successor period . interest expense decreased $ 8.4 million for the combined year ended january 3 , 2021 , versus the fiscal year 2019. the lower interest expense was driven by a reduction in the comparative average libor rate and payoff of the existing second lien term loan and subsequent origination of a new term loan with a lower fixed rate component in the fiscal fourth quarter of 2019 , which favorably impacted the fiscal year 2020. income taxes inco me taxes were a benefit of $ 0.3 million for the successor period , expense of $ 4.0 million for december 30 , 2019 through august 28 , 2020 , and expense of $ 3.1 million for the year ended december 29 , 2019 . 47 year ended december 29 , 2019 ( predecessor ) versus year ended december 30 , 2018 ( predecessor ) net sales net sales for fiscal 2019 compared to fiscal 2018 remained relatively flat , with a $ 3.8 million and 0.5 % decrease year over year . the decrease in net sales was related to the conversion of rsp operated routes to ios which resulted in additional discounts and commissions offered to ios . io discounts increased from $ 58.0 million in fiscal 2018 to $ 77.2 million in fiscal 2019 , reducing net sales by $ 19.2 million for the period . this conversion was mostly offset by the fourth quarter results associated with the acquisition of kennedy , which closed on october 21 , 2019. excluding the offsetting impact of the kennedy acquisition and changes in io discounts , power brands , which accounted for approximately 78 % of the overall sales , increased by approximately 2 % . this was partially offset by a decrease in sales of approximately 5 % within the foundation brands , which accounted for the remaining 22 % . growth in power brands was led by the utz , zapp 's and golden flake pork skins brands , partially offset by the negative impact of a strategic realignment of the boulder canyon and tgi fridays brands as part of the inventure foods integration process . the decrease in sales of foundation brands primarily resulted from our strategic decision to exit certain low-margin , non-core private label businesses acquired through previous acquisitions . cost of goods sold and gross profit our gross profit for fiscal 2019 was $ 253.8 million , a $ 12.9 million and 4.8 % decrease compared to gross profit of $ 266.7 million for fiscal 2018. the decrease in gross profit in fiscal year 2019 was made up of a net $ 16.8 million reduction due to conversion of rsp routes to ios which increased io discounts and decreased cost of stale and damaged product , $ 5.4 million increase due to the kennedy acquisition , and $ 1.5 million reduction primarily due to higher input costs . our gross profit margin was 33.0 % and 34.5 % for fiscal years 2019 and 2018 , respectively . the decrease in gross profit margin was primarily driven by the conversion of rsp routes to ios as well as lower overall gross profit margins of kennedy and higher input costs . io discounts increased from $ 58.0 million in fiscal 2018 to $ 77.2 million in fiscal 2019 , reducing gross profit by $ 19.2 million for the period . excluding the impact of increased io discounts due to dsd route conversions , gross profit as a percentage of net sales would have increased by 0.2 % from 34.5 % to 34.7 % . selling and administrative expense our selling and administrative expenses for fiscal 2019 were $ 228.3 million , a $ 23.1 million and 9.2 % decrease , compared to selling and administrative expenses of $

liquidity and capital resources the following table presents net cash provided by operating activities , investing activities and financing activities for the fifty-three weeks ended january 3 , 2021 and fifty-two weeks ended december 29 , 2019. replace_table_token_5_th 51 for the period ended january 3 , 2021 , our consolidated cash balance , including cash equivalents , was $ 46.9 million or $ 31.8 million higher than at december 29 , 2019. net cash provided by operating activities for the combined fifty-three weeks ended january 3 , 2021 was $ 29.7 million compared to $ 28.0 million for the fifty-two weeks ended december 29 , 2019 , with the difference largely driven by the increase in gross margin and lower interest expense partially offset by the increased cash expenses associated with transaction costs . cash used in investing activities for the combined fifty-three weeks ended january 3 , 2021 was $ 703.4 million mostly driven by the business combination and capital expenditures of $ 21.7 million , versus cash used in investing activity of $ 115.9 million for the fifty-two weeks ended december 29 , 2019 , which was driven by the acquisitions of truco and the corresponding on the border tradename , along with the acquisition of ubh , kitchen cooked and the h.k . anderson business . additionally , during fiscal year 2019 , we sold certain io notes , which resulted in cash proceeds of $ 33.2 million . net cash provided by financing activities was $ 231.5 million for the combined fifty-three weeks ended january 3 , 2021 , which was primarily as a result of the bridge credit agreement for the acquisition of truco and exercise of warrants , versus net cash provided by financing activities of $ 96.0 million for the fifty-two weeks ended december 29 , 2019. financing arrangements the primary objective of our financing strategy is to maintain a prudent capital structure that provides us flexibility to pursue our growth objectives .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources the following table presents net cash provided by operating activities , investing activities and financing activities for the fifty-three weeks ended january 3 , 2021 and fifty-two weeks ended december 29 , 2019. replace_table_token_5_th 51 for the period ended january 3 , 2021 , our consolidated cash balance , including cash equivalents , was $ 46.9 million or $ 31.8 million higher than at december 29 , 2019. net cash provided by operating activities for the combined fifty-three weeks ended january 3 , 2021 was $ 29.7 million compared to $ 28.0 million for the fifty-two weeks ended december 29 , 2019 , with the difference largely driven by the increase in gross margin and lower interest expense partially offset by the increased cash expenses associated with transaction costs . cash used in investing activities for the combined fifty-three weeks ended january 3 , 2021 was $ 703.4 million mostly driven by the business combination and capital expenditures of $ 21.7 million , versus cash used in investing activity of $ 115.9 million for the fifty-two weeks ended december 29 , 2019 , which was driven by the acquisitions of truco and the corresponding on the border tradename , along with the acquisition of ubh , kitchen cooked and the h.k . anderson business . additionally , during fiscal year 2019 , we sold certain io notes , which resulted in cash proceeds of $ 33.2 million . net cash provided by financing activities was $ 231.5 million for the combined fifty-three weeks ended january 3 , 2021 , which was primarily as a result of the bridge credit agreement for the acquisition of truco and exercise of warrants , versus net cash provided by financing activities of $ 96.0 million for the fifty-two weeks ended december 29 , 2019. financing arrangements the primary objective of our financing strategy is to maintain a prudent capital structure that provides us flexibility to pursue our growth objectives .
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 Suspicious Activity Report : approval at the extraordinary general meeting of the shareholders of cch held on august 27 , 2020. ubi was determined to be the accounting acquirer and ubh was determined to be the accounting acquiree , in accordance with asc 810 , as the company is considered to be the primary beneficiary of ubh after the business combination . under the asc 805 , business combinations , acquisition method of accounting , purchase price allocation of assets acquired and liabilities assumed of ubh are presented based on their estimated fair values as of the closing of the business combination . as a result of the business combination , ubi 's financial statement presentation distinguishes ubh as the “ predecessor ” for periods prior to the closing of the business combination . ubi , which includes consolidation of ubh subsequent to the business combination , is the “ successor ” for periods after the closing of the business combination . as a result of the application of the acquisition method of accounting in the successor period , the financial statements for the successor period are presented on a full step-up basis as a result of the business combination , and are therefore not comparable to the financial statements of the predecessor period that are not presented on the same full step-up basis due to the business combination . key developments and trends our management team monitors a number of developments and trends that could impact our revenue and profitability objectives . long-term demographics , consumer trends , and demand – we participate in the attractive and growing $ 28 billion u.s. salty snacks category , within the broader $ 97 billion market for u.s. snack foods . the salty snacks category has grown retail sales at an approximately 5.6 % compound annual growth rate ( “ cagr ” ) over the last four years , including the increased in-home consumption of salty snacks due to covid-19 during 2020. during fiscal 2020 , snacking occasions are on the rise as consumers increasingly seek out convenient , delicious snacks for both on-the-go and at-home lifestyles . according to data from the hartman group , the consumer goods forum , and iri , approximately 50 % of u.s. eating occasions are snacks , with 95 % of the u.s. population snacking daily and the average american snacking 2.6 times per day based upon the latest available iri data . additionally , the salty snacks category has historically benefited from favorable competitive dynamics , including low private label penetration and category leaders competing primarily through marketing and innovation . we expect these consumer and category trends to continue to drive strong retail sales growth for salty snacks . as a staple food product with resilient consumer demand and a predominantly domestic supply chain , the salty snack category is well positioned to navigate periods of economic disruption or other unforeseen global events . the u.s. salty snack category has demonstrated strong performance through economic downturns historically , growing at a 4 % cagr from 2007 to 2010 during the last recession . more recently , the u.s. salty snack category demonstrated strong performance during the novel coronavirus ( “ covid-19 ” ) pandemic which began in march 2020 in the u.s. for the 52 weeks ended december 27 , 2020 , u.s. retail sales for salty snacks based on iri data increased by 9.1 % versus the comparable prior year period while our retail sales increased by 15.1 % in the same period . competition – the salty snack industry is highly competitive and includes many diverse participants . our products primarily compete with other salty snacks but also compete more broadly for certain eating occasions with other snack foods . we believe that the principal competitive factors in the salty snack industry include taste , convenience , product variety , product quality , price , nutrition , consumer brand awareness , media and promotional activities , in-store merchandising execution , customer service , cost-efficient distribution , and access to retailer shelf space . we believe we compete effectively with respect to each of these factors . operating costs – our operating costs include raw materials , labor , manufacturing overhead , selling , distribution , general and administrative expenses . we manage these expenses through annual cost saving and productivity initiatives , sourcing and hedging programs , pricing actions , refinancing and tax optimization . additionally , we maintain ongoing efforts led by our project management office , or pmo , to expand our profitability , including implementing significant reductions to our operating cost structure in both supply chain and overhead costs . 41 taxes – on march 27 , 2020 , the coronavirus aid , relief , and economic security act ( “ cares act ” ) was enacted which includes various tax provisions with retroactive effect . the cares act is an approximately $ 2 trillion emergency economic stimulus package in response to the coronavirus outbreak , which among other things contains numerous income tax provisions . some of these tax provisions are effective retroactively for years ending before the date of enactment . we deferred $ 7.8 million of payroll tax deposits per the cares act . the deferred payroll taxes must be deposited in two installments , with half due on december 31 , 2021 and the remainder on december 31 , 2022. we continue to evaluate the impact of the cares act ; however , we believe it is unlikely to have a material effect on our consolidated financial position , results of operations , and cash flow . financing costs – we regularly evaluate our variable and fixed-rate debt . we continue to use low-cost , short- and long-term debt to finance our ongoing working capital , capital expenditures and other investments and dividends . story_separator_special_tag io discounts increased from $ 77.2 million in fiscal 2019 to $ 96.5 million in fiscal 2020 , reducing gross profit by $ 19.3 million . selling and administrative expense selling and administrative expenses were $ 107.5 million for the successor period , $ 195.6 million from december 30 , 2019 through august 28 , 2020 , and $ 228.3 million for the year ended december 29 , 2019. selling and administrative expenses for the combined year ended january 3 , 2021 increased $ 74.8 million or 33 % over fiscal 2019. the increased expenses in fiscal 2020 were driven by higher transaction-related service provider fees , higher operational costs related to incremental sales volume , operating expense of the acquired kennedy , kitchen cooked , h.k . anderson and truco businesses , higher incentive compensation expense and an additional 53rd week . gain ( loss ) on sale of assets gain on sale of assets was $ 0.9 million for the successor period , $ 1.3 million from december 30 , 2019 through august 28 , 2020 , and $ 13.3 million for the year ended december 29 , 2019. gain on sale of assets was primarily driven by a reduction in the number of conversions of rsp routes to io routes , which resulted in lower proceeds from the sale of routes in fiscal year 2020 compared to the same time period in fiscal year 2019. additionally , company owned routes were recorded at fair value as a result of the business combination , which resulted in increasing the io route asset by $ 10.5 million . other ( expense ) income , net other expense , net was $ 15.4 million for the successor period , $ 25.4 million from december 30 , 2019 through august 28 , 2020 , and $ 49.0 million for the year ended december 29 , 2019. the company incurred $ 2.5 million of expenses in connection with the repayment of the senior secured first lien note and incremental interest of $ 1.1 million and deferred financing fees that were expensed of $ 4.7 million related to the bridge loan in connection with the acquisition of truco during the successor period . interest expense decreased $ 8.4 million for the combined year ended january 3 , 2021 , versus the fiscal year 2019. the lower interest expense was driven by a reduction in the comparative average libor rate and payoff of the existing second lien term loan and subsequent origination of a new term loan with a lower fixed rate component in the fiscal fourth quarter of 2019 , which favorably impacted the fiscal year 2020. income taxes inco me taxes were a benefit of $ 0.3 million for the successor period , expense of $ 4.0 million for december 30 , 2019 through august 28 , 2020 , and expense of $ 3.1 million for the year ended december 29 , 2019 . 47 year ended december 29 , 2019 ( predecessor ) versus year ended december 30 , 2018 ( predecessor ) net sales net sales for fiscal 2019 compared to fiscal 2018 remained relatively flat , with a $ 3.8 million and 0.5 % decrease year over year . the decrease in net sales was related to the conversion of rsp operated routes to ios which resulted in additional discounts and commissions offered to ios . io discounts increased from $ 58.0 million in fiscal 2018 to $ 77.2 million in fiscal 2019 , reducing net sales by $ 19.2 million for the period . this conversion was mostly offset by the fourth quarter results associated with the acquisition of kennedy , which closed on october 21 , 2019. excluding the offsetting impact of the kennedy acquisition and changes in io discounts , power brands , which accounted for approximately 78 % of the overall sales , increased by approximately 2 % . this was partially offset by a decrease in sales of approximately 5 % within the foundation brands , which accounted for the remaining 22 % . growth in power brands was led by the utz , zapp 's and golden flake pork skins brands , partially offset by the negative impact of a strategic realignment of the boulder canyon and tgi fridays brands as part of the inventure foods integration process . the decrease in sales of foundation brands primarily resulted from our strategic decision to exit certain low-margin , non-core private label businesses acquired through previous acquisitions . cost of goods sold and gross profit our gross profit for fiscal 2019 was $ 253.8 million , a $ 12.9 million and 4.8 % decrease compared to gross profit of $ 266.7 million for fiscal 2018. the decrease in gross profit in fiscal year 2019 was made up of a net $ 16.8 million reduction due to conversion of rsp routes to ios which increased io discounts and decreased cost of stale and damaged product , $ 5.4 million increase due to the kennedy acquisition , and $ 1.5 million reduction primarily due to higher input costs . our gross profit margin was 33.0 % and 34.5 % for fiscal years 2019 and 2018 , respectively . the decrease in gross profit margin was primarily driven by the conversion of rsp routes to ios as well as lower overall gross profit margins of kennedy and higher input costs . io discounts increased from $ 58.0 million in fiscal 2018 to $ 77.2 million in fiscal 2019 , reducing gross profit by $ 19.2 million for the period . excluding the impact of increased io discounts due to dsd route conversions , gross profit as a percentage of net sales would have increased by 0.2 % from 34.5 % to 34.7 % . selling and administrative expense our selling and administrative expenses for fiscal 2019 were $ 228.3 million , a $ 23.1 million and 9.2 % decrease , compared to selling and administrative expenses of $

