Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS

v3.23.3
BUSINESS SEGMENTS
 9 Months Ended
Sep. 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 Nine Months Ended
September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022
Product revenues, net
Branded CPG $ 103,270  $ 105,373  $ 307,581  $ 313,207 
Flavors & Ingredients 31,160  29,907  92,168  86,168 
Total product revenues, net $ 134,430  $ 135,280  $ 399,749  $ 399,375 
Operating income
Branded CPG $ 7,202  $ 5,518  $ 7,820  $ 17,555 
Flavors & Ingredients 8,448  7,287  26,989  24,137 
15,650  12,805  34,809  41,692 
Corporate (8,989) (5,983) (22,098) (20,115)
Total operating income $ 6,661  $ 6,822  $ 12,711  $ 21,577 
The following table presents disaggregated revenue information for the Company (in thousands):
Three Months Ended Nine Months Ended
September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022
Branded CPG:
North America $ 73,785  $ 75,823  $ 217,146  $ 220,071 
Europe 17,326  15,223  52,986  51,479 
India, Middle East and Africa 2,925  4,526  10,064  13,007 
Asia-Pacific 5,207  5,607  16,519  17,650 
Latin America 4,027  4,194  10,866  11,000 
Flavors & Ingredients 31,160  29,907  92,168  86,168 
Total product revenues, net $ 134,430  $ 135,280  $ 399,749  $ 399,375