Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.23.2
BUSINESS SEGMENTS
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
NOTE 14: BUSINESS SEGMENTS
The Company has two reportable segments: Branded CPG and Flavors & Ingredients. In addition, the Company’s corporate office functions are reported and included under Corporate. Corporate is not a reportable or operating segment but is included for reconciliation purposes and includes the costs for the corporate office administrative activities as well as transaction-related and other costs. The Company does not present assets by reportable segments as they are not reviewed by the Chief Operating Decision Maker for purposes of assessing segment performance and allocating resources.
The following table presents selected financial information relating to the Company’s business segments (in thousands):
Three Months Ended Six Months Ended
June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022
Product revenues, net
Branded CPG $ 102,301  $ 104,073  $ 204,311  $ 207,834 
Flavors & Ingredients 30,601  29,430  61,008  56,261 
Total product revenues, net $ 132,902  $ 133,503  $ 265,319  $ 264,095 
Operating income
Branded CPG $ 1,461  $ 5,577  $ 618  $ 12,037 
Flavors & Ingredients 9,005  9,023  18,541  16,850 
10,466  14,600  19,159  28,887 
Corporate (7,417) (6,910) (13,109) (14,132)
Total operating income $ 3,049  $ 7,690  $ 6,050  $ 14,755 
The following table presents disaggregated revenue information for the Company (in thousands):
Three Months Ended Six Months Ended
June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022
Branded CPG:
North America $ 69,307  $ 71,168  $ 143,361  $ 144,248 
Europe 19,691  18,248  35,660  36,256 
India, Middle East and Africa 3,986  4,902  7,139  8,481 
Asia-Pacific 5,497  5,981  11,312  12,043 
Latin America 3,820  3,774  6,839  6,806 
Flavors & Ingredients 30,601  29,430  61,008  56,261 
Total product revenues, net $ 132,902  $ 133,503  $ 265,319  $ 264,095